5.45pm Markets Update

Updated: Monday 06 July 2015 17.57

Europe's main stock markets fell this afternoon after Greece rejected creditors' austerity demands in a weekend referendum and fears rose that it could crash out of the eurozone.

The CAC 40 in Paris fell 2.01% to 4,711.54 points, while Frankfurt's DAX 30 shed 1.52% to close at 10,890.63 points.

Outside the eurozone, the FTSE 100 index lost 0.76% to 6,535.68 points compared with Friday's close.

US stocks erased most of their earlier losses, even turning positive briefly, after the International Monetary Fund said it is ready to assist Greece if asked.

US stocks opened more than half a percent lower, but by shortly before 5pm they had pared most of their losses.

The Dow Jones industrial average was down 46.73 points, or 0.26%, at 17,683.38. The Nasdaq Composite was down 15.25 points, or 0.3 percent, at 4,993.97.

In Dublin, the ISEQ index closed down 1.5% at 6,139.97. CPL ended the days higher at €5.65 (up 1.8%). Kerry Group was 0.9% lower at €66.17, and Smurfit Kappa was down 2.1% at €25.24.

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 overshadowed news China had unveiled fresh measures to support slumping mainland markets.