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The UK 100 was flat as further delays to Greek debt restructuring created more confidence sapping uncertainty – but the talk of the market was the agreed $90bn (£56bn) merger of Glencore and Xstrata.
After rejecting a newly proposed bailout deal which demands stricter labour reforms and other austerity steps, Greek leaders will meet again today in a last ditch effort to avoid defaulting.
The full package must be approved by the Eurozone, the European Central Bank and the International Monetary Fund before 15 February in order to complete all the legal procedures for a bond swap deal and save the country from the economic abyss.
European shares fell this morning despite being on six-month highs. They were mainly weighed down by weak updates from the likes of UBS. The Swiss bank fell 1.1% as it posted a quarterly profit at the bottom end of expectations amid uncertainty around the Eurozone.
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