European markets hold steady despite Greece fears

Shares in Europe stayed firm today (January 25th) as traders and those learning how to trade switched to a broader outlook on the economic situation, momentarily dismissing worries about lack of progress in Greek debt talks.

The pan-European FTSEurofirst 300 index remained little-changed at roughly 1,045.02 points, with gains in financial shares offsetting weakness in European technology, reports Reuters.

Similarly the euro remained steady at $1.3030 as fears over the eurozone debt crisis eased.

This comes ahead of a statement from the Federal Reserve which could lead to a period of extra-low interest rates in the US, stimulating the global market.

"The risk is the Fed could be more dovish than what the market is expecting, in which case you might see the dollar pull back," Geoff Kendrick, currency strategist at Nomura, told the news provider.

Jason Gaywood, consultant at currency specialist HIFX, recently warned the situation in Europe looked largely negative coming into the new year.

Posted by Clive Arneil