Markets shaky, euro dips following French and Greek votes

Greek and French election results rattled investors on Monday by undermining confidence in the region’s plans to cut spending and tackle its debt crisis, sending the euro to a three-month low.

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Post date May 7, 2012

(REUTERS) PARIS – Greek and French election results rattled investors on Monday by undermining confidence in the region’s plans to cut spending and tackle its debt crisis, sending the euro to a three-month low.

European shares also traded lower, with Greek stocks down 6.4 percent.ATG, but reaction was muted with the UK market closed for a holiday.

Investors sold the bonds of other weaker euro zone members after the two pro-bailout parties in Greece failed to win a parliamentary majority, rekindling fears over the country’s future in the single currency.