11am Markets Update

Updated: Monday 06 July 2015 11.23

European markets were weaker this morning, though off their earlier lows, after Greek voters rejected austerity measures demanded in return for a debt deal, raising concerns about the country's possible exit from the euro zone. Banks were the worst hit.

London's FTSE was down 22 points (0.34%) to stand at 6,563 by 11am, while the Paris CAC lost 35 points (0.7%) to trade at 4,773 and the Frankfurt DAX dropped 71 points (0.6%) to 10,988.

Dublin's ISEQ index was also lower this morning, falling by 34 points (0.55%) to stand at 6,199. Shares in Kingspan were down 1.5% to €21.46, while Paddy Power was down 1.2% to €78.42 and Dalata Hotel Group dropped 2.5% to trade at €3.80. Aer Lingus shares had dipped 0.2% to €2.40 after it reported a 2% increase in passenger numbers for last month.

Earlier in Asian trade, Tokyo's Nikkei index sank 429 points (2.08%) to finish at 20,112 while the Hang Seng index in Hong Kong slumped 828 points (3.2%) to end at 25,236 as Greece's 'no' vote to further austerity overshadowed news China had unveiled fresh measures to support slumping mainland markets.

US markets were closed on Friday for the Independence Day weekend holiday.