European benchmarks mixed as EU government debt stabilises

The major European Union (EU) and eurozone stock benchmarks are on a mixed footing today (January 23rd), as Eurostat figures reveal both the 27-member state and the 17-nation single currency unit's government debt has stabilised.

At the end of the third quarter last year, the government debt-to-gross domestic product (GDP) ratio in the eurozone stood at 90 per cent compared to the 89.9 per cent at the end of the second quarter.

In the wider EU area, the ratio was 85.1 per cent, which is a 85.0 per cent.

Eurostat also posted that compared to the third quarter of 2011, the government debt-to-GDP ratio in both the eurozone and EU rose to 90 per cent and 85.1 per cent respectively.

Currency and deposits represented 2.8 per cent of eurozone and 3.8 per cent of EU government debt and loans made up 18.3 per cent of eurozone and 15.8 per cent of EU government debt.

At 11:45 GMT, the German Dax index rose by 0.2 per cent to 7717 points, while the Paris Cac 40 fell by 0.1 per cent to 3734.3 points.

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