RTS index updates minimum since early 2012

The RTS index dropped under 1430 points on Monday, updating the minimum since January 6, as a result of pessimism over crisis in Europe and uncertainties around the Greek economy, Interfax reports.

The RTS index dropped to 1429.29 (-1.8%) at 12.34 pm, the MICEX index to 1361.82 (-1.7%), similar to the minimum of May 7 – 1350.17 (minimum since December 12, 2011).

The Athens General dropped by 3% to 593.96, The Stoxx Europe 600 by 1% to 249.49, IBEX by 2,5% to 6820.30, CAC 40 by 2,49% to 3051.88, DAX by 1,68% to 6469.53, FTSE 100 by 1,44% to 5495.23.

Greece had parliamentary polls on May 6. New Democracy, SYRIZA and PASOK are the top three parties. Karolos Papoulias has to organize an off-schedule meeting to form a coalition, otherwise the country will need new parliamentary polls. SYRIZA refused to negotiate the problem and is opposed to signing a loan deal with the EU and IMF.

Finances ministers of euro zone states will meet on Monday to discuss Greece and Spain. Madrid announced new bank reforms last week.

German Chancellor Angela Merkel’s Christian Democrats lost in Nordrhein-Westfalen in bi-elections.

Fitch Ratings plans reduction of ratings for France, Italy, Spain, Portugal, Cyprus, Slovenia, Belgium, Ireland.