Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

[tommy271]

Greek Market Sharply Lower



Athens stocks are weaker on Wednesday with banks remaining in the spotlight.

“The prospect of early elections seems to be troubling the community, thus minus sign could be reiterated. Banks should once again be in the spotlight. Coca Cola Hellenic should also attract investors’ interest on the back of its 3Q10 results that will be announced today before market’s opening,” Marfin Analysis says in its morning report.

“Yesterday΄s abrupt downward correction clearly surpassed what could be considered as profit-taking and can likely trace its origins on hearsay related to Piraeus Bank share capital increase, an event, however, which has not yet been confirmed. Aforementioned overreaction, which acquired characteristics of a banking sector sell off as we moved towards the end of the trading session, render us optimist, however, as we consider that the Athens market has most probably approached levels that could provide the GI with an ascending reaction. In this context, we would consider increasing our positions should the market retreat towards the 1,595 units during the start of the session, anticipating that the Index will most likely rebound later during the day towards the 1,615 - 1,630 units, which consist the GI΄s intraday pivot point and 1st resistance level respectively. Our positive stance is also supported by the significant decrease of the FTSE20 futures open interest, which have declined by more than 5.5k lots during Monday, currently standing at 22,413,” Pegasus Securities says.

Across the board, the General Index drops 1.38% at 1,586.12 on a total turnover of 38.65 mil. euro.

(Capital.gr)

***
Da una mezz'oretta è in fase di recupero, ora a 1600 punti con - 0,47.

 

[ferdo]

sorry.

cmq é tutta speculazione....

la cosa importante, é che la grecia si sta risanando e alla fine rimborserá le emissioni a 100.

sulla grecia cmq ci sono anche io, ho un cippino di 2025 in perdita.

che sorry?!?!

seguo il motto che dice: "compra quando scorre il sangue, anche se è il tuo stesso!"
Solo che per ora non ne vedo un po' ma non tantissimo.

 

[tommy271]

Greek minister: No bailout repayment extension now

October 27, 2010



LIMASSOL, Cyprus—Greece's finance minister says the crisis-racked country isn't looking now to extend the repayment period of an emergency bailout loan, but he isn't ruling it out.

George Papaconstantinou says the Greek government is "simply concentrating" on fulfilling the conditions of the euro110 billion ($153 billion) loan package provided by the EU and the IMF, and that it is not "at the moment thinking or proposing something else" on the repayment period.

Papaconstantinou tells the AP that a repayment extension "is not up to us." He says "what is up to us is to do the best that we can to reduce the deficit and do the structural reforms."

The Greek official was speaking Wednesday on the sidelines of an economic forum on the east Mediterranean island.


(Associated Press)

 

[tommy271]

Greek Bonds Tumble as Government Says Tax Revenue Falling Short

October 27, 2010, 6:31 AM EDT

By Keith Jenkins


Oct. 27 (Bloomberg) -- Greek bonds slid for a third day as Finance Minister George Papaconstantinou said a tax-revenue shortfall is hampering government efforts to reduce the nation’s budget deficit.

The declines pushed the yield on the 10-year bond to the highest in more than three weeks. Papaconstantinou, speaking at a conference in Limassol, Cyprus, said Greece has “serious tax compliance issues” and that a Greek tax amnesty is “a break with the past.” Greek Prime Minister George Papandreou said Oct. 7 his government inherited a deficit that was “close to 15 percent” of gross domestic product last year.

“The tax problems highlight event risk for Greek bonds,” said Harvinder Sian, a senior bond strategist at Royal Bank of Scotland Plc in London. “The country functions with zero appetite to pay tax, and the authorities are looking to change this. Papaconstantinou is drawing a line in the sand, and wants better compliance from now on.”

The yield on the 10-year Greek bond rose 45 basis points to 10.21 percent as of 11:09 a.m. in London. That’s the most since Oct. 1, based on closing levels. The 6.25 percent security maturing in June 2020 fell 2.29, or 22.9 euros per 1,000-euro ($1,384) face amount, to 76.26.

The extra yield investors demand to hold Greek 10-year debt instead of bunds rose by 32 basis points to 748 basis points, the most since Oct. 8.


(Bloomberg)

***
Siamo intorno all'orario di ieri ... quello della scivolata.

 

[tommy271]

Greek CDS rises, bonds underperform Germany


LONDON | Wed Oct 27, 2010 6:24am EDT



LONDON Oct 27 (Reuters) - The cost of insuring Greek debt against default rose on Wednesday as risk aversion to the sovereign continued to grow after a series of negative comments, while bonds sharply underperformed German debt. Five-year credit default swaps (CDS) on Greek government debt rose to 720 basis points, up 39 bps according to data monitor Markit.

This means it costs 720,000 euros to protect 10 million euros of exposure to Greek bonds.

"Greece (is) underperforming amid fears of political instability... Bearish comments from PIMCO yesterday haven't helped sentiment," said Gavan Nolan, analyst at Markit. Prime Minister George Papandreou said on Monday that Greece is still in an emergency and must not let up efforts to cut deficits, while media reports on Tuesday quoted Pimco's Chief Executive Officer saying Greece is likely to default within three-years.

The Greek/German 10-year bond yield spread GR10YT=TWEB was 769 bps, around 36 bps wider on the day though traders said liquidity was thin.

***
Della serie ... ogni motivo è buono.

 

[tommy271]

UPDATE 2-Greek 2009 deficit to be revised above 15 pct-finmin


Wed Oct 27, 2010 7:06am EDT



* Eurostat revision to show 2009 budget gap above 15 pct
* GDP to contract by 2.5-3 pct next year - Papaconstantinou
* On track on fiscal targets, nothing won yet

(Combines stories, adds quotes, details)


By Sarah Ktisti



LIMASSOL, Cyprus, Oct 27 (Reuters) - Greece's much-revised 2009 budget deficit will be set "once and for all" by Eurostat at above 15 percent of GDP, the country's finance minister said on Wednesday.

Greece's 2011 draft budget earlier this month estimated the 2009 deficit at 13.8 percent of gross domestic product, but the EU's statistics office Eurostat is expected to revise the deficit upwards in data to be published in mid-November.

A first revision of the 2009 deficit to 12.5 percent of GDP last year after the Socialists came to power triggered the country's worst fiscal crisis in decades and sent shockwaves throughout markets worldwide.

"Remember the 2009 budget was projecting a deficit under 3 percent, then a few days before the (Oct. 4) election the reported deficit to the EU Commission was 6 percent," Finance Minister George Papaconstantinou told a conference in Cyprus.

"We realised it was over 12 percent. And actually, even after the final revision by Eurostat ... which will validate Greek numbers for 2009 once and for all, it will be above 15 percent. We are talking about a five-fold difference."

The cost of insuring Greek debt against default rose on Wednesday as risk aversion to the sovereign continued to grow after a series of negative comments, while bonds sharply underperformed German debt.

Five-year credit default swaps (CDS) on Greek government debt rose to 720 basis points, up 39 bps according to data monitor Markit. This means it costs 720,000 euros to protect 10 million euros of exposure to Greek bonds. [ID:nLDE69Q14D
The ruling Socialists plan to slash the budget deficit to 7.8 percent of GDP this year and cut it further to 7.0 percent in 2011.[ID:nLDE693195]

"On the fiscal front nothing is won yet," Papaconstantinou said, while adding: "We are on track and will continue to be on track."

Papaconstantinou told the same economic conference that the country's economy would contract by between 2.5 and 3 percent next year.

In the 2011 draft budget, published earlier this month, the government estimated that GDP would shrink by 2.6 percent next year from a 4 percent contraction in 2010, as an austerity drive takes its toll.

The Mediterranean country's economy has been hit by tough budget cuts prescribed by a 110 billion euro ($153.5 billion) EU/IMF bailout deal agreed to pull the country out of its debt crisis.

"Growth will contract by 4 percent this year, and next year by between 2.5 and 3 percent," Papaconstantinou said.

 

[tommy271]

Greek 2009 Deficit Topped 15%, Papaconstantinou Says

October 27, 2010, 6:57 AM EDT

By Stelios Orphanides and Natalie Weeks


(Updates with quote in third paragraph, banks starting in sixth paragraph.)


Oct. 27 (Bloomberg) -- A review of Greece’s 2009 budget showed the deficit was above 15 percent of gross domestic product, more than previously estimated, Finance Minister George Papaconstantinou said.
The revision won’t affect Greece’s drive to cut the shortfall this year, Papaconstantinou said at a conference in Limassol, Cyprus, today. “We are on track for the fiscal target for 2010,” he said. The finance minister’s budget, released Oct. 4, forecast the 2010 deficit at 7.8 percent of GDP.

“After the final revision by Eurostat to the numbers, which will validate numbers for 2009 once and for all, it will be above 15 percent,” Papaconstantinou said. “Last year was a finance minister’s nightmare.”
Greece had to obtain 110 billion euros ($152 billion) of emergency loans from the European Union and International Monetary Fund in May as borrowing costs soared amid concerns the country wouldn’t be able to reduce its budget shortfall.

The revision would mean Greece overtaking Ireland as the EU country with the biggest deficit as a percentage of GDP last year. Papaconstantinou estimated the 2009 shortfall at 13.8 percent in his budget.
Eurostat, the EU’s statistics service, will release the final figures for Greece’s 2009 deficit and debt by Nov. 15.


Banks ‘Normalizing’


Papaconstantinou said “things were normalizing” in the Greek economy, with the banking industry, which was “almost completely” reliant on European Central Bank financing, “now standing on its feet.”
Greek banks’ reliance on ECB liquidity to refinance operations declined in September for a second month, according to the Athens-based central bank. Lenders had a total of 94.3 billion euros compared with 95.9 billion euros in August.

The banks were locked out of markets by concerns about their holdings of Greek government bonds amid fears of a sovereign default.
The Greek government is also seeing a response to the “fast-track” process it’s implementing to draw investment, especially from Chinese businesses and China’s “clear commitment” to make Greece a hub, Papaconstantinou said.

Chinese Prime Minster Wen Jiabao committed to buy Greek bonds and support the shipping industry as the country sought investment to boost growth and emerge from its second year of recession.
The Greek economy is forecast to shrink 4 percent this year and 2.6 percent next year before returning to growth in 2012, according to the draft budget.


(Bloomberg)

 

[LUP1051]

mi sento il cadavere della gazzella
basta non fare la fine della LT2 irlandese!

la 2014 non riapre!

neanche la 22, riapre,,,,,,,,,,

 

[pier_pat]

...ciao Pier, per come la vedo io, fino a meta' novembre, si rimane laterali con puntate verso la parte bassa del rettangolo.
Io seguo la '25 a cui ho associato (50) come supporto e (55) come resistenza..
Per il momento i 55 sono stati violati..(la quotazione era oltre) percio' puo' tranquillamente tornare sui (50).. lasciando per strada un buon 10%

L'uscita del premier sulle elezioni anticipate ( anche se mi e' sembrata piu' una provocazione) non mi e' piaciuta per niente.

:Y

io seguo la '25, la 2019 6,5%, e la '40 4,60%: mi sembra che per diverse ragioni (sottovalutazione, rendimento, e rapporto capitale investito/yield to cash) siano tra le più interessanti, ovviamente IMHO. per ora, wait and see...

 

[tommy271]

:Y

io seguo la '25, la 2019 6,5%, e la '40 4,60%: mi sembra che per diverse ragioni (sottovalutazione, rendimento, e rapporto capitale investito/yield to cash) siano tra le più interessanti, ovviamente IMHO. per ora, wait and see...

Tieni conto che il GGBei 25 ha un'alta indicizzazione maturata, rimane comunque un titolo molto sottovalutato.