(MENAFN- ProactiveInvestors)FTSE100 is called to continue lower Tuesday as all eyes are still on Greece - on a day when it is likely to default on its its £1.1 billion payment due to the IMF. Global markets plunged yesterday amid the panic of the potential Grexit and banks in the country closed for a week. Scores of people made a bid to take money from cash machines. Next up on the horizon is Prime Minister Tsipras's surprise referendum on July 5 in which the populace will be asked about further bailouts although the question is not yet known. Increasingly however this is being billed as a vote of whether Greece stays in or out. The anti- austerity government reckon a "no vote" will strengthen its hand in negotiations. Other commentators have said "no" will simply close the EU door even more firmly shut. FTSE plunged yesterday 134 points almost 2% at 6620 but today is called to drop a further 38 points on the open. Germany's DAX plummeted 3.56% while France's CAC fell 189 points. In Asia overnight trading was volatile as the Greek situation weighed however it seems it has mostly been shrugged off. Chinese authorities made efforts to quell market panic allowing pension funds to buy stocks for example. The Shanghai Composite is up 60 points at the time of writing while the Nikkei 225 is up 106 to 20216.
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