Euroland’s shares fell sharply on Monday

Monday, 18 April 2011 08:16

Euroland's shares fell sharply on Monday as ratings agency S&P cut its US credit outlook to negative, Greece issues continue and Finland could block future bailouts.

The FTSE 100 closed down 125.93 points, or 2.1 %, at 5,870.08, its lowest close since March 23. The FTSE 100 volatility index the UK equilvant of the VIX jumped nearly 26 % on Monday, its biggest one-day percentage gain since November 2009. The DAX was off 151.44 or 2.11%, the CAC off 93.24 or 2.35% and the IBEX was off 213.70 or 2.02%.

Monday's move by S&P served to further worry investors already dealing with euro zone debt and Greece where markets are concerned the country will eventually need to restructure its debt.

Adding to Euroland Finland's True Finns anti euro party which was voted into a powerful role in the Helsinki parliament at the weekend said it expected the European Union to change plans for a bailout of Portugal.