London open
FTSE100 hit the skids again as all eyes in the markets were on Greece yet again.
The blue chip index dropped 59 points to 6,560, as the deadline for Greece to make a €1.6bn payment to the IMF became imminent.
It’s unlikely to be made most commentators predict, but the referendum this weekend that could see Greece’s people effectively vote to leave the eurozone is now seen as a more serious test of Europe’s unity.
Markets on the rest of the continent mirrored the UK’s fall. Germany and France fell by 0.9%, thought Italy, another potential eurozone weak spot was more or less flat.
Only five FTSE 100 members were not showing losses, with defence group Meggitt (LON:MGGT) the best performer.
ARM Holdings (LON:ARM) was also higher on a read–through from a decent set of results from fellow smartphone chip designer Imagination Technologies (LON:IMG).
Margins, volumes and royalty revenues will be higher in the current year said the graphics chip designer. Shares rose 3% to 418.4p.
There was little pattern to the fallers with United Utilities (LON:UU.), copper miner Antofagasta (LON:ANTO) and pump maker Weir (LON:WEIR) all down about 2% to 907.5p, 691.5p and 1,709p respectively.
Good production figures from its Stockton coal mine in Pennsylvania boosted Atlantic Coal (LON:ATC) 4% to 0.12p.
Pre-open
FTSE100 is called to continue lower Tuesday as all eyes are still on Greece - on a day when it is likely to default on its its £1.1 billion payment due to the IMF.
Global markets plunged yesterday amid the panic of the potential Grexit and banks in the country closed for a week. Scores of people made a bid to take money from cash machines.
Next up on the horizon is Prime Minister Tsipras's surprise referendum on July 5 in which the populace will be asked about further bailouts, although the question is not yet known.
Increasingly, however, this is being billed as a vote of whether Greece stays in or out.
The anti- austerity government reckon a "no vote" will strengthen its hand in negotiations. Other commentators have said "no" will simply close the EU door even more firmly shut.
FTSE plunged yesterday 134 points almost 2% at 6,620 but today is called to drop a further 38 points on the open.
Germany's DAX plummeted 3.56%, while France's CAC fell 189 points.
In Asia overnight, trading was volatile as the Greek situation weighed, however it seems it has mostly been shrugged off. Chinese authorities made efforts to quell market panic, allowing pension funds to buy stocks, for example.
The Shanghai Composite is up 60 points at the time of writing, while the Nikkei 225 is up 106 to 20,216.