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European shares are seen opening the trading week slightly higher as fears of a euro zone debt crisis taking root in Spain continue to hold back sentiment.
London’s FTSE 100 is seen up by around 0.4 percent, Germany’s DAX is called higher 0.7 percent and the CAC is called to open flat.
Spain holds its first bond auction since the S&P downgrade last week following large scale protests across the country over the weekend at the austerity measures being rolled out by the government.
The Financial Times is reporting that discussions are taking place between the government and Spanish banks to segregate problematic property loans into one or more asset management firms in order to relieve the burden on struggling lenders.
In Greece, as campaigning heats up for upcoming elections, Socialist leader Evangelos Venizelos has come out to say that he will not impose any new taxes if he wins, ruling out any measures that would hit the elderly or low-wage earners.
A “no” result on the Irish referendum of Europe’s fiscal treaty would block access to Europe’s new permanent bailout fund, as well as funds from the International Monetary Fund.
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