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Trading loses its direction after early optimism over Athens fades

Trading

Global markets struggled to find a clear trend yesterday as Greece's bailout negotiations dragged on and the outlook for Federal Reserve policy came under intense scrutiny. By midday in New York, the S&P 500 was down fractionally at 2,099, as Walmart posted a poorly received set of results and energy stocks came under pressure from a 3% drop in the price of Brent crude to $58.68 a barrel. However the FTSE Eurofirst 300 ended 0.3% firmer at a new seven-year high, though trade was volatile as participants followed the latest twists and turns regarding Greece with some nervousness.

 

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