Asian Equities Ease on Weaker China

Asian shares turned lower and the euro slipped on Tuesday after the initial relief on Greece’s conditional bailout agreement gave way to caution, as investors waited to see if the Greek parliament would accept harsh austerity measures as part of the deal.  Oil prices also skidded as the market awaited an announcement on a nuclear deal between Iran and six global powers that could lead to an easing of sanctions against Tehran and a resumption of its oil exports into an oversupplied market.

They will hold a full ministerial meeting at 0830 GMT, followed by a press conference.  Financial spreadbetters expected Britain’s FTSE 100 and France’s CAC 40 to open little changed, and Germany’s DAX was seen up 0.1 percent.

“Markets had a solid rebound yesterday on the news that a conditional deal was on the table,” Jonathan Sudaria, a dealer at Capital Spreads, said in a note.  “However, the need to pass even harsher measures through the Greek parliament could be another stumbling block and so we see markets treading water until we get some clarity,” he said.