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MENAFN - ecPulse - 06/11/2012

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European shares opened slightly higher Tuesday eyeing United States presidential elections, with only hours to determine who would run the country for the next four years.

The U.S. outlook looks rather vague; the tight run-up between the two candidates hardens how economic conditions in the worlds largest economy will unfold. Will things remain the same with Obama? Or will Romney shove in new adjustments to Americas monetary, financial and political, and even military policies.

Meanwhile, in the debt-burdened continent, Greece is placed in the spotlight; parliament in Athens is expected to vote Wednesday on a new set of austerity measures, a move that received great rejection by the Greek people.

The private and public sectors in Greece announced Monday a 48-hour strike in protest to the freshly introduced austerity measures.

At precisely 03:05 EST, French CAC 40 rose 0.09% to 3451.71, German DAX 0.03% up to 7328.96 and Britains FTSE 100 by 0.13% to 5846.42.

At 11:32 (GMT 3), the euro slumped to 1.2767 after opening at 1.2795. The EUR/USD pair hit highest intraday at 1.2801 and snapped back to low of 1.2762.

The British pound continued sliding pushing the GBP/USD pair to trade at 1.5976 compared with its session opening at 1.5978, recording highest at 1.5996 and intraday low of 1.5969.


 






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