Futures Fade As Enthusiasm Over Greek Vote Wanes

Reuters/Eric Thayer

Reuters – By Chuck Mikolajczak –        June 18, 2012

(Reuters) – Stocks were poised for a lower open on Monday as initial enthusiasm over a victory for pro-bailout parties in Greek elections was overshadowed by rising Spanish and Italian bond yields.

Futures had advanced earlier on news Greece’s center-right New Democracy party will try to form a coalition with other parties and Germany indicated it may be willing to grant the fiscally troubled nation more time to meet fiscal targets needed to avoid a euro exit.

New Democracy leader Antonis Samaras said Greece will meet its financial commitments but indicated some adjustments to the bailout agreement need to be made.

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