tommy271
Forumer storico
Intanto i CDS scendono anche oggi di una ventina di punti consolidando il recupero: 722 punti ...
CMA | Market Data
CMA | Market Data
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
Piraeus capital-raising plan to be announced
Piraeus Bank, Greece’s fourth-largest lender, said yesterday it will announce in due time the way it will raise capital to fund its proposed acquisition of government stakes in ATEbank and Hellenic Postbank. Earlier this month, Piraeus offered to buy 77.3 percent of ATEbank and 33.04 percent of Hellenic Postbank from the government for 701 million euros in cash. Its offer, announced on July 15, sparked a rally in the banking sector, which has been battered by the country’s debt crisis. There have been press reports that the bank is looking into ways of raising at least 1 billion euros to fund the acquisition. “Following press reports, Piraeus Bank clarifies that it will specify [the details] at the proper time, depending on the progress of the procedure, and will inform the investment public on the way it will raise the required capital,” it said in a bourse filing. (Reuters)
Piraeus Bank, Greece’s fourth-largest lender, said yesterday it will announce in due time the way it will raise capital to fund its proposed acquisition of government stakes in ATEbank and Hellenic Postbank. Earlier this month, Piraeus offered to buy 77.3 percent of ATEbank and 33.04 percent of Hellenic Postbank from the government for 701 million euros in cash. Its offer, announced on July 15, sparked a rally in the banking sector, which has been battered by the country’s debt crisis. There have been press reports that the bank is looking into ways of raising at least 1 billion euros to fund the acquisition. “Following press reports, Piraeus Bank clarifies that it will specify [the details] at the proper time, depending on the progress of the procedure, and will inform the investment public on the way it will raise the required capital,” it said in a bourse filing. (Reuters)
tommy271
Forumer storico
Plugging budget revenue holes
Government to use 4-billion-euro cushion to cover poor receipts and deficits at hospitals and state firms
The government tried to ease its creditors’ concerns yesterday by suggesting it will use a cushion of 4 billion euros to soften the blow from the debts of hospitals, local authorities, public companies and social security funds which have recently been added to the country’s public debt.
This cushion will come from cuts in public spending and will offset some of the shortfalls in revenues, which had worried the representatives of the European Commission, the European Central Bank and the International Monetary Fund, who began an official visit to Greece yesterday in order to monitor the implementation of the memorandum of cooperation between the government and the three creditors.
The data that Finance Minister Giorgos Papaconstantinou presented to the visiting experts yesterday suggested that public revenues are lagging by 300 million euros, calculated on each month’s potential. According to the target set, though, the shortfall comes to 1.4 billion euros.
This was not the only cause for worry on the part of the creditor representatives. They also voiced concern about the country’s soaring inflation, the methods of containing expenses in public companies and hospitals, and the obligations that may have been undertaken but have not yet been made known to the state’s General Accounting Office.
The government responded that inflation has indeed grown and that this is due to the impact of tax hikes. In fact, inflation is the only parameter which is to be altered in the memorandum, as the latter had provided for a 1.9 percent consumer price growth rate, while inflation has exceeded 5 percent.
Athens also presented a restructuring program for public revenues for the next few months supported by receipts from the single property tax, the value-added tax, the extraordinary levy on properties etc. At the same time, it will increase monitoring across the spectrum of economic activity with more data checking.
It further announced that the 2010 budget is being put through an extreme stress test, which, according to a high-ranking official at the Finance Ministry, indicates that even in the worst-case scenario, the target for reducing the public deficit by 5.5 percentage points of gross domestic product should be achieved.
As a result, there is no need for fresh measures within 2010 in order to reduce the deficit to 8.1 percent of GDP.
Ministry officials also suggested that recession this year will range between 3 and 3.2 percent.
The government is also planning to restructure loss-making public companies, particularly those in the public transport sector, in the same pattern as that used for the Hellenic Railways Organization (OSE).
A top Finance Ministry official told the creditors’ representatives that state companies with deficits will be reformed next year.
(Kathimerini.com)
The government tried to ease its creditors’ concerns yesterday by suggesting it will use a cushion of 4 billion euros to soften the blow from the debts of hospitals, local authorities, public companies and social security funds which have recently been added to the country’s public debt.
This cushion will come from cuts in public spending and will offset some of the shortfalls in revenues, which had worried the representatives of the European Commission, the European Central Bank and the International Monetary Fund, who began an official visit to Greece yesterday in order to monitor the implementation of the memorandum of cooperation between the government and the three creditors.
The data that Finance Minister Giorgos Papaconstantinou presented to the visiting experts yesterday suggested that public revenues are lagging by 300 million euros, calculated on each month’s potential. According to the target set, though, the shortfall comes to 1.4 billion euros.
This was not the only cause for worry on the part of the creditor representatives. They also voiced concern about the country’s soaring inflation, the methods of containing expenses in public companies and hospitals, and the obligations that may have been undertaken but have not yet been made known to the state’s General Accounting Office.
The government responded that inflation has indeed grown and that this is due to the impact of tax hikes. In fact, inflation is the only parameter which is to be altered in the memorandum, as the latter had provided for a 1.9 percent consumer price growth rate, while inflation has exceeded 5 percent.
Athens also presented a restructuring program for public revenues for the next few months supported by receipts from the single property tax, the value-added tax, the extraordinary levy on properties etc. At the same time, it will increase monitoring across the spectrum of economic activity with more data checking.
It further announced that the 2010 budget is being put through an extreme stress test, which, according to a high-ranking official at the Finance Ministry, indicates that even in the worst-case scenario, the target for reducing the public deficit by 5.5 percentage points of gross domestic product should be achieved.
As a result, there is no need for fresh measures within 2010 in order to reduce the deficit to 8.1 percent of GDP.
Ministry officials also suggested that recession this year will range between 3 and 3.2 percent.
The government is also planning to restructure loss-making public companies, particularly those in the public transport sector, in the same pattern as that used for the Hellenic Railways Organization (OSE).
A top Finance Ministry official told the creditors’ representatives that state companies with deficits will be reformed next year.
(Kathimerini.com)
tommy271
Forumer storico
State support key for lenders
By Yiannis Papadoyiannis - Kathimerini
The health of the local credit system relies on the support being offered to commercial banks by the state through privileged shares, which allowed most major lenders to pass the European Central Bank’s stress test last week.
The capital surplus of 3.3 billion euros that National Bank, Eurobank, Alpha, Piraeus, ATEbank and Hellenic Postbank enjoy corresponds to the privileged shares that the state has acquired.
In total, the country’s six biggest banks have issued privileged shares that add up to 3.5 billion euros; without them ATEbank would have finished the stress tests without any funds at all, Piraeus would have failed it and the own capital index of National, Eurobank and Alpha would have been under 7 percent. Hellenic Postbank would have seen its capital adequacy index marginally over 7 percent.
The question now for banks is how rapidly conditions will revert to normal so that they can proceed to share capital increases to buy back the privileged shares, as they are supposed to.
Already Piraeus has agreed with three foreign firms to draw funds of 1.1 billion euros, either through a share capital increase or via special bond issuing, or a combination of the two, in order to be able to fund its proposal to buy out Hellenic Postbank and ATEbank as well as the state’s privileged shares.
By Yiannis Papadoyiannis - Kathimerini
The health of the local credit system relies on the support being offered to commercial banks by the state through privileged shares, which allowed most major lenders to pass the European Central Bank’s stress test last week.
The capital surplus of 3.3 billion euros that National Bank, Eurobank, Alpha, Piraeus, ATEbank and Hellenic Postbank enjoy corresponds to the privileged shares that the state has acquired.
In total, the country’s six biggest banks have issued privileged shares that add up to 3.5 billion euros; without them ATEbank would have finished the stress tests without any funds at all, Piraeus would have failed it and the own capital index of National, Eurobank and Alpha would have been under 7 percent. Hellenic Postbank would have seen its capital adequacy index marginally over 7 percent.
The question now for banks is how rapidly conditions will revert to normal so that they can proceed to share capital increases to buy back the privileged shares, as they are supposed to.
Already Piraeus has agreed with three foreign firms to draw funds of 1.1 billion euros, either through a share capital increase or via special bond issuing, or a combination of the two, in order to be able to fund its proposal to buy out Hellenic Postbank and ATEbank as well as the state’s privileged shares.
tommy271
Forumer storico
Borsa Atene: Ase +2,3%, ottimismo su M&A
MILANO (MF-DJ)--L'indice Ase di Atene cresce del 2,3%, a quota 1662,64 punti, in scia alle sedute positive dei mercati internazionali e allo scenario di M&A.
In luce Eurobank a +5%, National a +4,3%, Piraeus a +5%, Alpha a +4,6%, Opap a +1,3% e Ppc a +1,2%.
"I mercati sono ottimisti e beneficiano delle prospettive di takeover soprattutto nel settore bancario", afferma un analista.
MILANO (MF-DJ)--L'indice Ase di Atene cresce del 2,3%, a quota 1662,64 punti, in scia alle sedute positive dei mercati internazionali e allo scenario di M&A.
In luce Eurobank a +5%, National a +4,3%, Piraeus a +5%, Alpha a +4,6%, Opap a +1,3% e Ppc a +1,2%.
"I mercati sono ottimisti e beneficiano delle prospettive di takeover soprattutto nel settore bancario", afferma un analista.
g.ln
Triplo Panico: comprare
da imitare
Non è poco, recupero del 20% loss in una situazione difficile 
. Io mi aspetto un rimbalzino di un paio di figure per andare in gain.
PMC bassi, ma ancora in leggero loss, in questo momento.
Ciao, Giuseppe
Non è poco, recupero del 20% loss in una situazione difficile . Io mi aspetto un rimbalzino di un paio di figure per andare in gain.PMC bassi, ma ancora in leggero loss, in questo momento.
Ciao, Giuseppe
tommy271
Forumer storico
Grecia/ Stop a sciopero controllori,traffico aereo torna normale. C’erano stati cancellazioni e ritardi negli ultimi due giorni
martedì, luglio 27th, 2010
Atene, 27 lug. (Apcom) – Il traffico aereo negli aeroporti della Grecia è tornato alla normalità dopo la sospensione dello sciopero bianco dei controllori di volo, che ha comportato ritardi e cancellazioni negli ultimi due giorni. E’ quanto si è appreso da fonti aeroportuali.
“Non abbiamo più ritardi, il traffico è normale”, ha indicato un portavoce dell’aeroporto internazionale di Atene, Eleftherios Venizelos. I controllori di volo hanno deciso ieri sera di sospendere lo sciopero bianco osservato da domenica in vista di una riunione oggi con il ministro dei Trasporti, Dimitris Reppas. “Se questa riunione non produce risultati, prevediamo un altro sciopero sabato prossimo”, ha indicato Yannis Kourmoulakis, segretario generale dell’unione.
In seguito a una decisione della magistratura che aveva dichiarato “abusiva e illegale” la protesta di 48 ore prevista inizialmente per il fine settimana scorso, i controllori di volo avevano deciso “di garantire il servizio minimo”, determinando così consistenti ritardi negli ultimi due giorni e tre annullamenti domenica (su 294 partenze). I controllori chiedono “di non dipendere più dall’aviazione civile e di creare un organismo distinto e flessibile per gestire il bilancio che proviene dalle tasse che le compagnie aeree pagano agli aeroporti, per rispondere alle evoluzioni del traffico aereo in Europa”, aveva spiegato Anguelos Sotiropoulos, presidente del sindacato.
Gli scioperi, in pieno periodo turistico, mandano sempre più in crisi secondo molte agenzie di viaggi locali un settore che resta la principale risorsa del Paese, in preda a una gravissima crisi di bilancio.
martedì, luglio 27th, 2010
Atene, 27 lug. (Apcom) – Il traffico aereo negli aeroporti della Grecia è tornato alla normalità dopo la sospensione dello sciopero bianco dei controllori di volo, che ha comportato ritardi e cancellazioni negli ultimi due giorni. E’ quanto si è appreso da fonti aeroportuali.
“Non abbiamo più ritardi, il traffico è normale”, ha indicato un portavoce dell’aeroporto internazionale di Atene, Eleftherios Venizelos. I controllori di volo hanno deciso ieri sera di sospendere lo sciopero bianco osservato da domenica in vista di una riunione oggi con il ministro dei Trasporti, Dimitris Reppas. “Se questa riunione non produce risultati, prevediamo un altro sciopero sabato prossimo”, ha indicato Yannis Kourmoulakis, segretario generale dell’unione.
In seguito a una decisione della magistratura che aveva dichiarato “abusiva e illegale” la protesta di 48 ore prevista inizialmente per il fine settimana scorso, i controllori di volo avevano deciso “di garantire il servizio minimo”, determinando così consistenti ritardi negli ultimi due giorni e tre annullamenti domenica (su 294 partenze). I controllori chiedono “di non dipendere più dall’aviazione civile e di creare un organismo distinto e flessibile per gestire il bilancio che proviene dalle tasse che le compagnie aeree pagano agli aeroporti, per rispondere alle evoluzioni del traffico aereo in Europa”, aveva spiegato Anguelos Sotiropoulos, presidente del sindacato.
Gli scioperi, in pieno periodo turistico, mandano sempre più in crisi secondo molte agenzie di viaggi locali un settore che resta la principale risorsa del Paese, in preda a una gravissima crisi di bilancio.
Grisù
Forumer attivo
Finchè non si normalizza l'interbancario difficilmente si torneranno ad apprezzare sensibilmente i titoli....
Interbank Market Remains Closed For Greek Banks
The interbank market will remain closed for at least six more months, as the results of the stress test, even if deemed positive for Greek banks, do not remove the reluctance of foreign banks.
According to data from the Bank for International Settlements, the lending to the four PIGS (Portugal, Ireland, Greece and Spain) fell by 110 billion dollars in the first quarter of this year, while another 81 billion dollars were withdrawn from Italy.
The alarm, however, began to sound in May when the ECB was asked to "calm" the turmoil in the bond markets of southern Europe and bought tens of billion of sovereign paper.
Since then, the wholesale money market remained closed to many banks in southern Europe and Ireland.
The resulted in an increase of ECB funding to the banking systems in Portugal, Ireland, Greece and Spain by 126 billion euros in the first half of the year, an amount that corresponds to almost the total increase of 141 billion for all banks in the eurozone.
By the end of June, Greece, Ireland, Spain and Portugal accounted for 42% of the total lending by the ECB (EUR 870 billion), compared with 33% earlier this year.
Bank executives say that this trend reflects to a point the fear of a ΄dangerous΄ country (eg the debt dynamics in Greece and Portugal have convinced many of the inevitability of bankruptcy or restructuring) rather than specific bank risks.
They say this is a vicious circle for Greek banks.
- Stato
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