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European shares fall at open after Greek election

Published 26/01/2015, 08:10
© Reuters. Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt

PARIS (Reuters) - European stocks fell at the open on Monday, trimming some of last week's sharp gains on heightened concerns the Greek election results could lead to renewed instability in Europe.

At 0803 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,475.49 points.

Greek leftist leader Alexis Tsipras promised that five years of austerity, "humiliation and suffering" imposed by international creditors were over after his Syriza party swept to victory in a snap election on Sunday.

© Reuters. Traders work at their screens in front of the German share price index DAX board at the stock exchange in Frankfurt

While Tsipras fell just short of an overall majority, he is set to lead the first euro zone government committed to overturning the kind of budgetary rigour that was imposed on Greece as a condition of the bailout in 2010, which could embolden anti-austerity parties across the euro zone.

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