European stocks declined on Tuesday being influenced by news from Greece, reports Bloomberg.
The composite index of the largest companies of Stoxx Europe 600 decreased by the end of trading with 1.6%, to 372.74 points. The indicator has lost 9.98% compared with the maximum of the year fixed in April; falling of the index with 10 % will be a signal of correction in the market.
The British FTSE 100 fell 1.6%, the French CAC 40 - 2.3%, the German DAX - 1.96%, and the index of the largest enterprises in the Eurozone, Euro Stoxx 50 - 2.1%.
Italian FTSE MIB stock indicator showed the most significant decline on Tuesday, losing 3%, and Portuguese PSI 20 fell 2.2%.
Half of the 18 European stock markets tracked by Bloomberg fell 10% or more from the April highs, including the markets of Italy, Spain and France.
The Greek stock market remains closed and won’t work on Wednesday.
Greece, on Wednesday, will send a request for assistance under the European Stability Mechanism (ESM), said the chairman of the Eurogroup, Jeroen Deysselblum, after a meeting of eurozone finance ministers.
"Week after week, we see how the European market comes to correction, while Greece is approaching the edge of the abyss, - said an analyst of Bank J Safra Sarasin in Zurich, Alessandro Bee. - There are moments of panic and then a couple of days the market digests this information. I think this situation will continue as long as the Greek issue is resolved. "
Shares of energy companies, as well as mining companies and automakers fell on Tuesday.
The cost of securities of the French oil services company Technip (PARIS: TECF) fell on trades with 8.3%. Technip said that will write off 650 million euros in connection with the restructuring. The company will cut 6 thousand jobs and will reduce fleet of oilfield service vessels.
The course of the German securities of Axel Springer SE jumped 2.2% on reports that it is negotiating a merger with broadcaster ProSiebenSat.1 AG, whose share price rose 2.8%.