European shares dropped on Monday trading session after Greeks rejected bailout conditions demanded by creditors in Sunday’s referendum.
Nearly 61 percent of Greeks said “No” to further austerity in return to bailout, yet the fall in equities was not that strong as previously expected as investors will continue to eye developments.
Despite the rejection of terms, still there are hopes that the Greek government could reach a deal with its creditors.
Stoxx Europe 600 index plunged 0.6%. Spain’s IBEX dipped 1.4 percent and Italy’s FTSE MIB was down 2.3 percent. Germany’s DAX dropped 0.9 percent and France’s CAC-40 slumped 1 percent.
Brent crude slipped from a peak of $59.93 a barrel to trade around $58.33, while crude oil fell to $53.99 from the session’s opening at $54.72.
In the U.S., futures equities traded lower ahead of the release U.S. ISM non-manufacturing data at 14:00 GMT.