Strongest indication to date that Greece is headed for debt default

THE strongest hint yet that Greece is headed for debt default came yesterday when its government admitted it will miss deficit targets this year and remain in recession next year.

The news knocked most international stock markets; but Ireland’s ISEQ managed to open the week with a marginal gain.

The ISEQ closed the day up by 0.6% — CRH, DCC, FBD, Aryzta, ICON, Paddy Power and Tullow Oil recording the most eye-catching gains. However, the likes of Irish Continental Group, Smurfit Kappa, Kerry Group and Providence Resources recorded the highest falls.