stock markets reaction to Greek 7th november 2011

Indonesia stock info - Asian stock markets reaction to greece 7th november 2011 ;The euro steadied and stock futures rose in early Asian trade on Monday after Greek politicians agreed to form a coalition government to approve a euro zone bailout, easing fears that the debt-ridden country faced an imminent default.

The euro was little changed against the dollar and steadied above $1.38 after Greek Prime Minister George Papandreou and opposition leader Antonis Samaras agreed on a new coalition government to approve the bailout plan before elections.

Papandreou and Samaras had been scrambling to reach a deal before finance ministers of euro countries meet in Brussels on Monday, to show that Greece is serious about taking steps needed to stave off bankruptcy.

S&P 500 futures opened higher while Nasdaq futures and Dow Jones industrial average futures also rose at the open.

The Australian stock market edged 0.2 percent lower to 4,274 points.

Political wrangling in Greece had sparked panic in global financial markets on fears that it would fail to save the country from defaulting and to stop the sovereign debt crisis from spreading to other countries in the euro zone.

A recovery in riskier assets eased appetite for safe-haven government debt, with U.S. Treasury futures easing to 130-07/32 from 130-08/32 late on Friday in New York.

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