tommy271
Forumer storico
Non ne sono convinto.
L'operazione di Trichet, di cui parla lo Spiegel, di scaricare i bond acquistati al EFSF che altro è ... se non la premessa di un buy-back?
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (13 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
Non ne sono convinto.
L'operazione di Trichet, di cui parla lo Spiegel, di scaricare i bond acquistati al EFSF che altro è ... se non la premessa di un buy-back?
tommy271
Forumer storico
Euro-socialists seek 'progressive' answer to economic woes
Europe's leading socialist parties on Friday open a two-day meeting in Athens to discuss a "progressive" response to the continent's economic woes ahead of an EU summit on the topic next week.
"We are proposing to reform the economy out of the crisis instead of trying to cut it," the Party of European Socialists (PES) said ahead of the meeting.
"We are focusing on investments in innovation, green growth, education, the fight against social inequality and a tax on financial transactions, as well as budget consolidations," the group representing over 30 socialist parties said.
European conservatives including German Chancellor Angela Merkel, Italian Prime Minister Silvio Berlusconi and European Commission President Jose Manuel Barroso are holding a parallel meet on the same issues in Helsinki.
The socialists on Friday said their strategy will create eight million more jobs and 4.5 percentage points more growth than the conservatives' "austerity-only" policies.
"We socialists see beyond a simple cleanup of public finances," Greek Prime Minister George Papandreou told a Greek ruling party council held ahead of the European meeting.
"The PSE seeks new economic governance that will include the introduction of euro bonds and the application of a tax on financial activity," he said.
The debt crisis is to top the agenda at next week's EU summit.
The European Union is currently finalising the details for the replacement in 2013 to its temporary bailout fund, the European Financial Stability Facility.
A special summit of eurozone leaders on March 11 and a full meeting of EU chiefs on March 24-25 will decide the size, shape and scope of a permanent rescue fund for the single currency area.
The EU is also trying to bridge divisions over deepening economic coordination in the eurozone and division over a competitivity pact promoted by France and Germany to prevent any new debt crises from rocking the euro.
Several countries have criticised the plan as a German drive to impose its austere economic model on the rest of the 17-member eurozone.
Tightening economic coordination is part of efforts to reassure markets that Europe is taking steps to put a lid on a debt crisis that forced Greece and Ireland to take bailouts last year and threatens to take down others, including Portugal and Spain.
Greece is currently enforcing a draconian austerity programme mandated by the EU and the International Monetary Fund.
The Greek government last year managed to slash its huge budget deficit by an unprecedented six percent but at the cost of widespread pay cuts and tax hikes that have caused waves of strikes and protests.
Lisbon is widely considered the next eurozone country at risk given its public deficit and debt coupled with anaemic growth, with investors demanding ever higher rates of return to provide fresh funds to the government.
(France Presse)
***
Come dicevamo, oltre a Helsinki c'è anche Atene ...
Europe's leading socialist parties on Friday open a two-day meeting in Athens to discuss a "progressive" response to the continent's economic woes ahead of an EU summit on the topic next week.
"We are proposing to reform the economy out of the crisis instead of trying to cut it," the Party of European Socialists (PES) said ahead of the meeting.
"We are focusing on investments in innovation, green growth, education, the fight against social inequality and a tax on financial transactions, as well as budget consolidations," the group representing over 30 socialist parties said.
European conservatives including German Chancellor Angela Merkel, Italian Prime Minister Silvio Berlusconi and European Commission President Jose Manuel Barroso are holding a parallel meet on the same issues in Helsinki.
The socialists on Friday said their strategy will create eight million more jobs and 4.5 percentage points more growth than the conservatives' "austerity-only" policies.
"We socialists see beyond a simple cleanup of public finances," Greek Prime Minister George Papandreou told a Greek ruling party council held ahead of the European meeting.
"The PSE seeks new economic governance that will include the introduction of euro bonds and the application of a tax on financial activity," he said.
The debt crisis is to top the agenda at next week's EU summit.
The European Union is currently finalising the details for the replacement in 2013 to its temporary bailout fund, the European Financial Stability Facility.
A special summit of eurozone leaders on March 11 and a full meeting of EU chiefs on March 24-25 will decide the size, shape and scope of a permanent rescue fund for the single currency area.
The EU is also trying to bridge divisions over deepening economic coordination in the eurozone and division over a competitivity pact promoted by France and Germany to prevent any new debt crises from rocking the euro.
Several countries have criticised the plan as a German drive to impose its austere economic model on the rest of the 17-member eurozone.
Tightening economic coordination is part of efforts to reassure markets that Europe is taking steps to put a lid on a debt crisis that forced Greece and Ireland to take bailouts last year and threatens to take down others, including Portugal and Spain.
Greece is currently enforcing a draconian austerity programme mandated by the EU and the International Monetary Fund.
The Greek government last year managed to slash its huge budget deficit by an unprecedented six percent but at the cost of widespread pay cuts and tax hikes that have caused waves of strikes and protests.
Lisbon is widely considered the next eurozone country at risk given its public deficit and debt coupled with anaemic growth, with investors demanding ever higher rates of return to provide fresh funds to the government.
(France Presse)
***
Come dicevamo, oltre a Helsinki c'è anche Atene ...
Ultima modifica:
tommy271
Forumer storico
INTERVIEW-No free lunches for Ireland -Finnish finmin
2011-03-04 15:38:37 GMT (Reuters)
2011-03-04 15:38:37 GMT (Reuters)
* EFSF's effective capacity must be raised to 440 billion
* EFSF and permanent crisis mechanism should not buy bonds
* Portugal can do more on structural, labour reforms
* Not the right time to think about Greek debt restructuring
By Andreas Rinke and Terhi Kinnunen
HELSINKI, March 4 (Reuters) - The effective lending capacity of the euro zone's bailout fund should be increased to the full 440 billion euros, Finland's finance minister said on Friday, even though it is not clear at this stage that any other countries need to tap the facility.
Speaking to Reuters in an interview, Jyrki Katainen said he did not think either the existing fund, the European Financial Stability Facility (EFSF), or the permanent crisis mechanism that will take effect from mid-2013, should be used to buy bonds from heavily indebted countries such as Greece.
"It is important that the instrument is workable and we have to be ready to make it as large as we have agreed, 440 billion (euros)," he said of the EFSF, which was set up last May and has a current effective capacity of 250 billion euros.
"We don't need to rush on this, because if we are ready to do whatever is needed to get 440 billion out of the fund, it should be enough," he said.
"The main issue is that we are ready to do whatever is needed, if the money is needed. But right now, today, it doesn't look that obvious that there are more clients coming (to seek assistance from the EFSF)."
Katainen, who will host a meeting of a dozen centre-right EU leaders on Friday to discuss the euro zone debt situation, said he did not see room for Ireland's 85 billion euro bailout package, agreed last November, to be renegotiated.
Ireland is pushing to have the interest on its 40 billion euros plus of EU loans -- an average rate of 5.8 percent -- reduced to make it easier to pay back the money it owes.
"There are no free lunches," Katainen said.
"Of course we have to take care that the Irish package really works, because it is in all our interests to ensure that Ireland will recover... Therefore we have to look at the debt sustainability," he said, adding:
"I don't know exactly what will be the outcome, but we have to at the same time look at the Irish sustainability development and be very strict. We don't loosen the package."
If the maturity or the interest on Ireland's loans were to be reconsidered, Katainen said other guarantees would have to be made by Ireland, such as fiscal commitments.
"We have just agreed on a package on Ireland and it is very important to stick on to what we have agreed on," he said.
The finance minister, who is the leader of Finland's centre-right Conservative party and in line to become the next prime minister, also said Portugal could do much more to reduce its budget deficit and reform its economy.
"Even though the Portuguese government has said that they have done already a lot, if the market doesn't believe this or if the sentiment is still nervous, they just have to do more.
"I know they are doing their best, but they have to put more effort on reform, especially on structural issues, such as labour market issues," he said.
He praised Spain, saying it had shown the way on economic reforms and convinced financial markets of its determination, restoring confidence.
On Greece, he said the country needed to stick to the terms of its 110 billion euro EU/IMF bailout and not think about a debt restructuring at this stage.
"I wouldn't want to speculate on debt restructuring, because they can also do a lot by following the package we have agreed on with the IMF, EU and Greece," he said.
"The best way to deal with the Greece crisis is to follow very strictly the package... It is no time to start to talk about the debt restructuring."
***
L'articolo integrale del post di AAA47.
* EFSF and permanent crisis mechanism should not buy bonds
* Portugal can do more on structural, labour reforms
* Not the right time to think about Greek debt restructuring
By Andreas Rinke and Terhi Kinnunen
HELSINKI, March 4 (Reuters) - The effective lending capacity of the euro zone's bailout fund should be increased to the full 440 billion euros, Finland's finance minister said on Friday, even though it is not clear at this stage that any other countries need to tap the facility.
Speaking to Reuters in an interview, Jyrki Katainen said he did not think either the existing fund, the European Financial Stability Facility (EFSF), or the permanent crisis mechanism that will take effect from mid-2013, should be used to buy bonds from heavily indebted countries such as Greece.
"It is important that the instrument is workable and we have to be ready to make it as large as we have agreed, 440 billion (euros)," he said of the EFSF, which was set up last May and has a current effective capacity of 250 billion euros.
"We don't need to rush on this, because if we are ready to do whatever is needed to get 440 billion out of the fund, it should be enough," he said.
"The main issue is that we are ready to do whatever is needed, if the money is needed. But right now, today, it doesn't look that obvious that there are more clients coming (to seek assistance from the EFSF)."
Katainen, who will host a meeting of a dozen centre-right EU leaders on Friday to discuss the euro zone debt situation, said he did not see room for Ireland's 85 billion euro bailout package, agreed last November, to be renegotiated.
Ireland is pushing to have the interest on its 40 billion euros plus of EU loans -- an average rate of 5.8 percent -- reduced to make it easier to pay back the money it owes.
"There are no free lunches," Katainen said.
"Of course we have to take care that the Irish package really works, because it is in all our interests to ensure that Ireland will recover... Therefore we have to look at the debt sustainability," he said, adding:
"I don't know exactly what will be the outcome, but we have to at the same time look at the Irish sustainability development and be very strict. We don't loosen the package."
If the maturity or the interest on Ireland's loans were to be reconsidered, Katainen said other guarantees would have to be made by Ireland, such as fiscal commitments.
"We have just agreed on a package on Ireland and it is very important to stick on to what we have agreed on," he said.
The finance minister, who is the leader of Finland's centre-right Conservative party and in line to become the next prime minister, also said Portugal could do much more to reduce its budget deficit and reform its economy.
"Even though the Portuguese government has said that they have done already a lot, if the market doesn't believe this or if the sentiment is still nervous, they just have to do more.
"I know they are doing their best, but they have to put more effort on reform, especially on structural issues, such as labour market issues," he said.
He praised Spain, saying it had shown the way on economic reforms and convinced financial markets of its determination, restoring confidence.
On Greece, he said the country needed to stick to the terms of its 110 billion euro EU/IMF bailout and not think about a debt restructuring at this stage.
"I wouldn't want to speculate on debt restructuring, because they can also do a lot by following the package we have agreed on with the IMF, EU and Greece," he said.
"The best way to deal with the Greece crisis is to follow very strictly the package... It is no time to start to talk about the debt restructuring."
***
L'articolo integrale del post di AAA47.
Ultima modifica:
tommy271
Forumer storico
UE: CGIL, INACCETTABILE PATTO COMPETITIVITA' EUROPEO
(ASCA) - Roma, 4 mar - Il documento sul patto di competitivita' europeo presentato da Barroso e Van Rompuy e' ''inaccettabile cosi' come lo sono le proposte della Commissione Europea sulla governance economica''. Lo afferma il segretario confederale della Cgil, Nicola Nicolosi, secondo il quale ''l'attacco alla contrattazione collettiva e alla sua autonomia, il contenimento dei salari nella zona Euro, l'indebolimento dei servizi pubblici, l'ulteriore precarizzazione del lavoro, la riforma del mercato del lavoro e l'aumento dell'eta' pensionabile, sono le ricette che la Commissione e il Consiglio vogliono utilizzare per promuovere un coordinamento delle politiche economiche a favore della competitivita'''.
La Cgil nel prossimo comitato esecutivo della Ces dell'8 e 9 marzo ''sosterra' l'approvazione di una risoluzione sulla governance economica europea - afferma il sindacalista - che respinge totalmente le proposte delle istituzione europee di varare una legge sulla competitivita' che intende intervenire sui salari e sulla contrattazione collettiva nazionale per ripianare i deficit dei Paesi dell'area Euro e per promuovere la competitivita' dell'Europa. Le Istituzioni europee - conclude Nicolosi -dovrebbero invece intervenire sui mercati finanziari che sono all'origine dell'attuale crisi economica e finanziaria''.
(ASCA) - Roma, 4 mar - Il documento sul patto di competitivita' europeo presentato da Barroso e Van Rompuy e' ''inaccettabile cosi' come lo sono le proposte della Commissione Europea sulla governance economica''. Lo afferma il segretario confederale della Cgil, Nicola Nicolosi, secondo il quale ''l'attacco alla contrattazione collettiva e alla sua autonomia, il contenimento dei salari nella zona Euro, l'indebolimento dei servizi pubblici, l'ulteriore precarizzazione del lavoro, la riforma del mercato del lavoro e l'aumento dell'eta' pensionabile, sono le ricette che la Commissione e il Consiglio vogliono utilizzare per promuovere un coordinamento delle politiche economiche a favore della competitivita'''.
La Cgil nel prossimo comitato esecutivo della Ces dell'8 e 9 marzo ''sosterra' l'approvazione di una risoluzione sulla governance economica europea - afferma il sindacalista - che respinge totalmente le proposte delle istituzione europee di varare una legge sulla competitivita' che intende intervenire sui salari e sulla contrattazione collettiva nazionale per ripianare i deficit dei Paesi dell'area Euro e per promuovere la competitivita' dell'Europa. Le Istituzioni europee - conclude Nicolosi -dovrebbero invece intervenire sui mercati finanziari che sono all'origine dell'attuale crisi economica e finanziaria''.
giutrader
Forumer attivo
Ue deve trovare accordo convincente, con o senza Bce - Merkel
Reuters - 04/03/2011 16:50:13
BERLINO/PARIGI 4 marzo (Reuters) - I leader europei devono trovare un accordo su un convincente pacchetto anti crisi entro marzo senza essere distolti dai loro sforzi dall'intenzione della Banca centrale europea di alzare i tassi ad aprile.
Lo ha detto oggi il cancelliere tedesco Angela Merkel al termine di un incontro con il presidente dell'Eurogruppo Jean-Claude Juncker sulla preparazione dei due prossimi vertici europei, cruciali per risolvere la crisi del debito sovrano.
"Sappiamo che dobbiamo mettere sul tavolo un pacchetto di misure per la zona euro, senza tener conto delle questioni che riguardano le Bce e i tassi di interesse", ha detto Merkel nella conferenza stampa.
Il cancelliere tedesco ha sottolineato che le priorità di Berlino sono il rafforzamento della disciplina di bilancio e il miglioramento della competitività della zona euro, ma non ha chiuso la porta alla possibilità che il fondo di salvataggio europeo (Efsf) compri titoli di stato dei paesi in difficoltà.
"Si discute di diverse opzioni possibili ed è necessario esaminare queste ipotesi", ha detto Merkel rispondendo a una domanda diretta su eventuali acquisti di bond da parte dell'Efsf.
La coalizione tedesca di centro-destra e la Bundesbank pubblicamente si sono detti contrari alla possibilità che il fondo Efsf acquisti titoli o conceda finanziamenti agli stati in difficoltà per finanziare riacquisti di bond sul secondario. Tuttavia, diplomatici europei dicono che Berlino sta aspettando di vedere l'esito del summit zona euro dell'11 marzo prima di mostrare le proprie carte sull'Efsf.
Gli analisti sottolineano che la mossa della Bce, che ha anticipato la possibilità di alzare il costo del denaro ad aprile, ha aumentato la pressione sui capi di stato europei perchè trovino un compromesso sulle diverse misure per fronteggiare la crisi del debito nei prossimi due vertice: l'11 marzo e il 24-25 marzo.
Lo ha detto oggi il cancelliere tedesco Angela Merkel al termine di un incontro con il presidente dell'Eurogruppo Jean-Claude Juncker sulla preparazione dei due prossimi vertici europei, cruciali per risolvere la crisi del debito sovrano.
"Sappiamo che dobbiamo mettere sul tavolo un pacchetto di misure per la zona euro, senza tener conto delle questioni che riguardano le Bce e i tassi di interesse", ha detto Merkel nella conferenza stampa.
Il cancelliere tedesco ha sottolineato che le priorità di Berlino sono il rafforzamento della disciplina di bilancio e il miglioramento della competitività della zona euro, ma non ha chiuso la porta alla possibilità che il fondo di salvataggio europeo (Efsf) compri titoli di stato dei paesi in difficoltà.
"Si discute di diverse opzioni possibili ed è necessario esaminare queste ipotesi", ha detto Merkel rispondendo a una domanda diretta su eventuali acquisti di bond da parte dell'Efsf.
La coalizione tedesca di centro-destra e la Bundesbank pubblicamente si sono detti contrari alla possibilità che il fondo Efsf acquisti titoli o conceda finanziamenti agli stati in difficoltà per finanziare riacquisti di bond sul secondario. Tuttavia, diplomatici europei dicono che Berlino sta aspettando di vedere l'esito del summit zona euro dell'11 marzo prima di mostrare le proprie carte sull'Efsf.
Gli analisti sottolineano che la mossa della Bce, che ha anticipato la possibilità di alzare il costo del denaro ad aprile, ha aumentato la pressione sui capi di stato europei perchè trovino un compromesso sulle diverse misure per fronteggiare la crisi del debito nei prossimi due vertice: l'11 marzo e il 24-25 marzo.
tommy271
Forumer storico
EU Socialists seek easier bailout terms for Greece
ATHENS, Greece (AP) — Leaders of European Socialist parties are calling on the EU and IMF to lower interest rates for rescue loans to Greece and Ireland.
European Socialist group leader Poul Nyrup Rasmussen on Friday said he backed an immediate rate drop by the conservative-led European Union.
Greece is struggling to see through a second year of drastic austerity measures in exchange for a €110 billion ($153.53 billion) bailout loan package that rescued it from bankruptcy last year. Ireland was rescued in November.
The Socialist party leaders were meeting in Athens while the Conservative ones gather in Helsinki, Finland.
ATHENS, Greece (AP) — Leaders of European Socialist parties are calling on the EU and IMF to lower interest rates for rescue loans to Greece and Ireland.
European Socialist group leader Poul Nyrup Rasmussen on Friday said he backed an immediate rate drop by the conservative-led European Union.
Greece is struggling to see through a second year of drastic austerity measures in exchange for a €110 billion ($153.53 billion) bailout loan package that rescued it from bankruptcy last year. Ireland was rescued in November.
The Socialist party leaders were meeting in Athens while the Conservative ones gather in Helsinki, Finland.
tommy271
Forumer storico
Crisi Grecia. La Spagna finge solidarietà e chiede “comprensione”
La Spagna prende una posizione netta nel confronto tra i leader europei sulle modalità di sostegno alla Grecia, la Spagna definisce la sua posizione attraverso il ministro delle finanze Elena Salgado, secondo cui la Grecia merita una maggiore flessibilità e una maggiore fiducia.
La Grecia ha chiesto in particolare, di poter procedere ad un buy-back sul debito con i titoli di Stato finanziando l’operazione attraverso il fondo europeo. In tal modo potrebbe eliminare l’attuale esposizione debitoria sui bond e sostituirla con quella meno onerosa nei confronti del fondo stesso, a tassi più vantaggiosi.
Elena Salgado preme perché questa richiesta venga accettata. La Grecia sta intensificando le misure di austerità e per questo motivo, secondo lei, va evitato che sia soffocata dagli interessi sui prestiti ricevuti.
Non è invece d’accordo l’inflessibile Cancelliera tedesca Angela Merkel, che intende mostrarsi assai critica e severa quando il 25 marzo i leader europei decideranno se attingere ulteriormente dal fondo di salvataggio pari a 440 miliardi di euro.
La Salgado parla per interesse di causa e non per solidarietà con il governo greco: è quel che pensano in molti, ritenendo che dopo Grecia e Irlanda, toccherà alla Spagna dover ricorrere agli aiuti europei.
Il 10 marzo la banca centrale spagnola ufficializzerà le nuove linee guida per le banche che non vogliono essere nazionalizzate: l’imposizione di un Tier-1 ratio dell’8%, che sale al 10% per le banche le cui azioni non sono detenute per almeno il 20% da investitori privati.
L’annuncio provoca apprensione fra gli istituti di credito non quotati, che si affrettano a svendere gli asset. Un prezzo da pagare – secondo quanto dichiarato da Elena Salgado – per beneficiare di requisiti più accessibili.
(ticinolive.ch)
La Spagna prende una posizione netta nel confronto tra i leader europei sulle modalità di sostegno alla Grecia, la Spagna definisce la sua posizione attraverso il ministro delle finanze Elena Salgado, secondo cui la Grecia merita una maggiore flessibilità e una maggiore fiducia.
La Grecia ha chiesto in particolare, di poter procedere ad un buy-back sul debito con i titoli di Stato finanziando l’operazione attraverso il fondo europeo. In tal modo potrebbe eliminare l’attuale esposizione debitoria sui bond e sostituirla con quella meno onerosa nei confronti del fondo stesso, a tassi più vantaggiosi.
Elena Salgado preme perché questa richiesta venga accettata. La Grecia sta intensificando le misure di austerità e per questo motivo, secondo lei, va evitato che sia soffocata dagli interessi sui prestiti ricevuti.
Non è invece d’accordo l’inflessibile Cancelliera tedesca Angela Merkel, che intende mostrarsi assai critica e severa quando il 25 marzo i leader europei decideranno se attingere ulteriormente dal fondo di salvataggio pari a 440 miliardi di euro.
La Salgado parla per interesse di causa e non per solidarietà con il governo greco: è quel che pensano in molti, ritenendo che dopo Grecia e Irlanda, toccherà alla Spagna dover ricorrere agli aiuti europei.
Il 10 marzo la banca centrale spagnola ufficializzerà le nuove linee guida per le banche che non vogliono essere nazionalizzate: l’imposizione di un Tier-1 ratio dell’8%, che sale al 10% per le banche le cui azioni non sono detenute per almeno il 20% da investitori privati.
L’annuncio provoca apprensione fra gli istituti di credito non quotati, che si affrettano a svendere gli asset. Un prezzo da pagare – secondo quanto dichiarato da Elena Salgado – per beneficiare di requisiti più accessibili.
(ticinolive.ch)
Ultima modifica:
tommy271
Forumer storico
Borsa Atene: Ase chiude a +0,3%, investitori piu' cauti
MILANO (MF-DJ)--L'indice Ase di Atene chiude a +0,3% a 1585,8 punti.
"I mercati hanno in parte perso il momentum, adottando un approccio piu' cauto sulle prospettive del Paese a causa dello scenario economico e politico debole e delle incertezze sulla risoluzione della crisi del debito da parte dell'Ue", afferma Spiros Tsangalakis, analista di HSBC Pantelakis Securities.
In luce Coca Cola Hellenic a +2,9%, Mig a +1,2%, Hellenic Postbank a +0,9% e Ppc a +0,7%.
Chiudono in territorio negativo Piraeus a -3,2%, Titan a -1,7%, Alpha a -0,8% e National a -0,7%.
Il 7 marzo in Grecia la Borsa sara' chiusa per festivita'.
MILANO (MF-DJ)--L'indice Ase di Atene chiude a +0,3% a 1585,8 punti.
"I mercati hanno in parte perso il momentum, adottando un approccio piu' cauto sulle prospettive del Paese a causa dello scenario economico e politico debole e delle incertezze sulla risoluzione della crisi del debito da parte dell'Ue", afferma Spiros Tsangalakis, analista di HSBC Pantelakis Securities.
In luce Coca Cola Hellenic a +2,9%, Mig a +1,2%, Hellenic Postbank a +0,9% e Ppc a +0,7%.
Chiudono in territorio negativo Piraeus a -3,2%, Titan a -1,7%, Alpha a -0,8% e National a -0,7%.
Il 7 marzo in Grecia la Borsa sara' chiusa per festivita'.
tommy271
Forumer storico
Greek Stocks End Mixed
Nervousness continued to prevail in the banking sector this week, as banks posted cumulative losses of 5.4%, despite General Index’s marginal profits.
Analysts comment that increased volatility may be triggered in the near future ahead of European Summits on March 11 and March 25, with most of the investors holding a wait-and-see stance.
As investors’ interest in European Summit on March 11 is growing, the domestic market holds a wait stance, moving aligned with the course of international markets, which seem stabilizing now after a rally in oil prices, says Pegasus Securities in its weekly report.
Pegasus notes that the two-week intermediate period between the two EU Summits will be critical, and expects that European developments will be at the centre of attention next week. Banks are expected to receive the maximum profit or loss from intraday fluctuations as the investing confidence is weak following the unaccomplished merger of Alpha Bank and National Bank.
"The market has lost some of its moment taking a more sober view of prospects due to the poor domestic economic and political climate, as well as the uncertainty over the EU΄s resolve to deal with the debt crisis," Spiros Tsangalakis, equity analyst at HSBC Pantelakis Securities told Dow Jones Newswires.
"Caution has returned and tangible newsflow is necessary for a durable direction", he added.
Across the board, the General Index ended at 1585.85units, up 0.33%. Approximately 22.99 million units worth EUR 74.1mn were traded on Friday, while a total amount of 89 shares rose, 56 declined and 139 remained unchanged.
Banks declined by 0.84% at 1331.14, despite intraday profits of 1.83%. Only Hellenic Postbank moved upwards, posting gains of 0.9%, while Bank of Cyprus and ATEBank remained unchanged at EUR 2.74 and EUR 0.79 respectively.
Piraeus, Marfin Popular and Alpha Bank declined by 3.21%, 1.09% and 0.81% respectively, while National Bank and Eurobank recorded losses of 0.75% and 0.22% respectively.
(capital.gr)
Nervousness continued to prevail in the banking sector this week, as banks posted cumulative losses of 5.4%, despite General Index’s marginal profits.
Analysts comment that increased volatility may be triggered in the near future ahead of European Summits on March 11 and March 25, with most of the investors holding a wait-and-see stance.
As investors’ interest in European Summit on March 11 is growing, the domestic market holds a wait stance, moving aligned with the course of international markets, which seem stabilizing now after a rally in oil prices, says Pegasus Securities in its weekly report.
Pegasus notes that the two-week intermediate period between the two EU Summits will be critical, and expects that European developments will be at the centre of attention next week. Banks are expected to receive the maximum profit or loss from intraday fluctuations as the investing confidence is weak following the unaccomplished merger of Alpha Bank and National Bank.
"The market has lost some of its moment taking a more sober view of prospects due to the poor domestic economic and political climate, as well as the uncertainty over the EU΄s resolve to deal with the debt crisis," Spiros Tsangalakis, equity analyst at HSBC Pantelakis Securities told Dow Jones Newswires.
"Caution has returned and tangible newsflow is necessary for a durable direction", he added.
Across the board, the General Index ended at 1585.85units, up 0.33%. Approximately 22.99 million units worth EUR 74.1mn were traded on Friday, while a total amount of 89 shares rose, 56 declined and 139 remained unchanged.
Banks declined by 0.84% at 1331.14, despite intraday profits of 1.83%. Only Hellenic Postbank moved upwards, posting gains of 0.9%, while Bank of Cyprus and ATEBank remained unchanged at EUR 2.74 and EUR 0.79 respectively.
Piraeus, Marfin Popular and Alpha Bank declined by 3.21%, 1.09% and 0.81% respectively, while National Bank and Eurobank recorded losses of 0.75% and 0.22% respectively.
(capital.gr)
- Stato