Greece Debt Talks Keep Traders on the Sidelines

This Is MONEY: Market participants appeared to remain skeptical of the developing Greece debt deal, with the euro seeing little benefit from rumours of an approaching resolution. Scott Smith, Corporate Foreign Exchange Dealer at Western Union Business Solutions, comments.

This Is MONEY:

London's leading shares index ended four days of gains today after ongoing talks in Greece over the country's debt mountain kept traders on the sidelines.

The FTSE 100 Index lost hold of earlier gains and closed 1.62 points lower at 5728.55, which hit a five-month high this week, as the Greek government held a third day of talks with creditors over a deal to get them to reduce the value of their Greek bond holdings.

Analysts said the outcome of the talks could determine the path the eurozone debt crisis takes in the coming months, while investors also looked ahead to a meeting of European finance ministers next Monday.

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