This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

World Stocks Mixed; EU Leaders Divided on Greece Rescue Plan

PARIS -- A two-day rally driven by hopes that Europe had a plan to contain Greece's debt crisis and shore up the continent's other struggling countries ended Wednesday amid reports of divisions among leaders.

The past few weeks have seen remarkable volatility, particularly in European shares, with investors responding to every twitch from European leaders on whether Greece will get its next loan installment, whether national parliaments will agree to a stronger pan-European bailout fund and whether there's a credible plan to save Italy and Spain from needing rescue loans themselves.

The overall trend had been pessimistic until Monday, when it seemed that finally Europe's leaders were agreeing on a strong set of measures.

That new optimism culminated in Greece's passage of a property tax -- one of a host of painful debt-reduction measures it must enact in exchange for rescue loans. The country will go bankrupt unless it receives an ¿8 billion ($11 billion) rescue loan before mid-October.

But the rally ended Wednesday, with reports of heavy resistance to a proposal to ask private holders of Greek debt take on bigger losses.

Many say that even after an agreed-upon reduction, Greece's debt is just too big to ever be paid off: With weak growth, Athens simply doesn't make enough money to pay its day-to-day bills and the interest on its loans, so the debt will continue to grow. As a result, there have been calls to further slash what it owes.

A pushback against that plan renewed uncertainty about Greece's path and European markets have made little headway.

In France, the CAC-40 rose 0.2% to 3,029 while Germany's DAX rose 0.1% to 5,634. The FTSE index of leading British shares was down 0.2% at 5,284. The euro, however, held its own against the dollar, rising 0.5% to $1.3647.

The relatively small moves in markets may be a sign they're waiting to see how the upcoming events unfold. Finland is set to vote on the proposals to strengthen the eurozone bailout package on Wednesday, and Germany will do the same the next day. Yes-votes would reassure investors.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,901.65 -83.96 -0.49%
S&P 500 1,964.61 -8.22 -0.42%
NASDAQ 4,399.3350 -19.6990 -0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs