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Greece May Yet Abandon Euro, Markets Close Mixed
Posted on June 18, 2012 at 18:04 PM EDT
While Greek voters chose to support austerity measures, concerns remained that the country may yet abandon the euro. The markets closed mixed with the Dow losing 25 points to 12,741 while Nasdaq climbed 22 points to 2895.
On the upside
Shares of Suntech Power (NYSE: STP) climbed after Japan approved subsidies for renewable energy.
Melrose engaged in discussions for the possible acquisition of Elster Group (NYSE: ELT).
On the downside
Shares of MicroVision (Nasdaq: MVIS) continued falling after pricing its public offering at the discounted price of $2.50 per unit on Friday.
Shares of USEC (NYSE: USU) fell after Japan announced subsidies for renewable clean energy.
National Bank of Greece (NYSE: NBG) fell over concerns that a stable coalition government may not be attainable for Greece.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 772.
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