US stocks open lower on Grexit fears


(MENAFN- ProactiveInvestors)US stocks opened lower shortly after the bell rang on Wall Street following a flat day in the UK. With little economic data out today investors focused on the uncertainty surrounding Greece after last week's last minute deferral on its payment to the International Monetary Fund (IMF). The dollar slipped after Barack Obama said the strong dollar 'posed a problem' although officials from the white house have denied the reports. The three main indices were all relatively flat with the Nasdaq losing 9 points to 5060. There were similar losses for the Dow Jones and the S&P 500. Shares in pharma giant Shire which is listed in both the UK and on the Nasdaq slipped following a report it is mulling a £12bn takeover bid for rival Actelion. It would be the second acquisition of the year after Shire snapped up US firm NPs in January. Shire's shares eased 2.3% to US$245 on the news. Shares in Deutsche Bank were moving higher after the bank said its co-chief executives were stepping down to be replaced by former UBS Chief Financial Officer John Cryan. Shares gained 5.8% to US$32. Sears Holdings said its comparable-store first-quarter sales declined more than 10% in the first quarter. The retailer also said it saw a 7% decline in sales at its Kmart stores.  Shares eased almost 1% to US$40 Meanwhile in the UK the FTSE 100 was flat at 6805p with supermarkets holding the index back. Smirnoff and Johnnie Walker owner Diageo was at the top of the index as rumours circulated that the company could be taken over by 3G Capital. Shares rose 100p to 1860p.


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