PROCUREMENT NEWS

United States : US: Stocks open lower despite Greek debt deal

Published 29 Nov 2012

US stocks opened lower on Tuesday after Greece secured a revised bailout deal that will help it again avert a default on its huge debt load.

Doubts remained about the new deal, which allows Athens to trim its debt load through bond buybacks and reduced rates and promises new rescue loan installments of 43.7 billion euros ($57 billion) through March.

Five minutes into trade the Dow Jones Industrial Average was down 27.19 points (0.21 per cent) at 12,940.18.

The broad-market S&P 500 lost 2.37 (0.17 per cent) at 1,403.92, while the Nasdaq Composite slipped 4.26 (0.14 per cent) to 2,972.52.

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