European market revival halted amidst Slovakia fears

Spread betting provider City Index takes a look at the financial activity shaping the markets on 11th October 2011.

[ClickPress, Tue Oct 11 2011] Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 11th October 2011.
The European stocks markets dropped for the first time in five days, as investors expressed apprehension about the upcoming eurozone vote in Slovakia.

Prior to Tuesdays' trading, the European Markets had enjoyed four straight days of growth.

However, that run came to an end following concerns over this afternoon's key vote in Slovakia on expanding the eurozone crisis fund.

As of 10:58 BST, the French CAC 40 was down 0.66 per cent, trading at 3,140.53. The German Dax was similarly affected with a drop of 0.64 per cent creating an index value of 5,809.70.

Despite the uncertainty triggered by the Slovakian vote, Baring Asset Management fund manager James Buckley thinks the result will make little difference to the future of the eurozone rescue.

Speaking in an interview with Reuters, Mr Buckley said: "I don't think (the vote) is going to be a dealbreaker, though there will be various political machinations behind the scenes".

Instead, despite the drop in the German Dax and French CAC 40, optimism remains high for the rest of the week, with third-quarter earnings season set to begin in the coming days.

Aluminum company Alcoa is expected to be the first to publish its financial report, with JP Morgan also set to follow later this week.
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