Waiting for the Greek parliament – 11/4/11


Stock markets don’t like uncertainty, so as the world waited Friday for the Greek parliament to cast a vote of confidence or no confidence in the government of Prime Minister George Papandreou stock prices moved lower. Despite the time difference, the vote didn’t take place in Athens until after US stock markets closed. So, the Dow Jones Industrial Average fell 61 points, or 0.5%, to 11,983. Broadcasting stocks were also lower. In the end,  Papandreou won the vote, but is expected to officially step down and try to form a new coalition government – but his controversial referendum on the country’s bailout deal with the rest of the Euro-zone is off the table.

The RBR Radio Index was down 1.780, or 0.6%, to 289.179.

The TVBR Television Index was down 4.683, or 1.9%, to 245.504.

Radio One, up 8%
SBS, up 2.9%
CBS, up 2.7%

Dial Global, down 8.4%
Entravision, down 8.1%
Gray, down 5.6%