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

[tommy271]

Greece to Restructure Debts of Pension Funds, Isotimia Reports

By Marcus Bensasson - Jan 17, 2011 10:01 AM GMT+0100


Greece’s Finance Ministry is planning to restructure debts of 30 billion euros ($39.9 billion) held by social security funds and state-run enterprises, Isotima said in a report, without saying where it got the information.

The government will replace existing debts with medium and long-term bonds with lower rates of interest than market rates, the Athens-based weekly newspaper reported yesterday.


(Bloomberg)

 

[tommy271]

All eyes are on Brussels for debt news



Equity investors will be keeping an eye out for news from Brussels today on an extension to Greece’s loan from the European Commission and the International Monetary Fund.
Decisions from a meeting between eurozone finance ministers may be made public regarding Greece being offered more time to pay back the 110 billion euros or possibly at a more favorable interest rate.
EFG Eurobank said in a report on Friday that collective initiatives addressing Greece’s debt crisis could act as “a game changer” for the equity market this year. The brokerage sees the Athens bourse’s benchmark general index rising 27 percent by the end of 2011 to 1,730 points. On Friday, the Athens bourse ended at 1,445.86 points up almost four percent for the week on bank led gains. Among the week’s outperformers were National Bank (rising 8.44 percent), Alpha Bank (6.13 percent), EFG Eurobank (5.28 percent), power company PPC (5.41 percent) and state betting agency OPAP (7.32 percent).
News released late on Friday that ratings agency Fitch had downgraded Greek bonds to junk has been widely discounted by the markets, according to brokers, who add that it could add to trading volatility today.
Across the Atlantic, this week’s US banks earnings could give investors more reason to be optimistic about the sector.
Strong results from JPMorgan Chase & Co on Friday bolstered expectations for top US banks, many of which are due to report this week, including Citigroup and Goldman Sachs. Wall Street will be closed today in observance of Martin Luther King Jr Day.


(Kathimerini.gr)

 

[tommy271]

Sono sempre più insistenti le ipotesi, fatte filtrare un paio di giorni fa, del Governatore della Banca Centrale di Cipro in merito al fatto che la BCE potrebbe lasciare al Fondo di Emergenza il compito di acquistare sul secondario i titoli dei Periferici.
La BCE si limiterebbe a tenere in pancia i bond acquistati e a riprendere la normale routine di vigilanza.

Attualmente il Fondo si è limitato ad andare in soccorso all'Irlanda.

 

[charlie84]

Stamattina sono in rosso le scadenze medio-brevi mentre dal 2018 in poi sono in verde.
Solo un caso o ci può essere qualche spiegazione?

 

[tommy271]

I TITOLI DEI GIORNALI:

Economic and labor issues were the main front-page items in Athens' dailies on Monday.


ADESMEFTOS TYPOS: "The 'Conspiracy of the Cells of Fire' intended to target eponymous and not judges".

ELEFTHEROS: "Karatzaferis-Samaras discussions".

ELEFTHEROS TYPOS: "Retroactive cuts to auxiliary pensions".

ELEFTHEROTYPIA: "Two in three workers losing the 'heavy and hazardous' work benefit".

ESTIA: "New bankruptcy speculations".

ETHNOS: "Who will retain the 'heavy and hazardous' work benefit".

IMERISSIA: "Critical Eurogroup meeting".

NAFTEMPORIKI: "New, painful measures brought by extension of the loan repayment period".

TA NEA: "MPs mutiny on environment ministry biodiversity bill for construction in Natura protected areas a headache for PASOK".

VRADYNI: "Extension of the Memorandum, too".

(capital.gr)

 

[tommy271]

Stamattina sono in rosso le scadenze medio-brevi mentre dal 2018 in poi sono in verde.
Solo un caso o ci può essere qualche spiegazione?

Nei giorni scorsi il tratto breve ha risentito un poco sull'andamento "tassi", ma questo in generale.

E' chiaro che il tratto che chiamerei "decennale" è quello più sensibile ad un rimbalzo, in caso di news positive.

 

[tommy271]

Athens Stocks Rise Ahead Of Eurogroup΄s Meeting



Athens Exchange resumes this week’s trading, posting gains of more than 1%, as the Greek market maintains its positive momentum ahead of Eurogroup’s meeting. Investors are cautiously optimistic following the mild degradation Greece’s ratings by Fitch. ATEbank’s gains along with the intense pressures on Piraeus Bank are at the centre of attention on Monday.

Mr. Takis Zamanis, an analyst at Beta Securities told Capital.gr that despite Piraeus’s capital increase and the reluctance in Europe because of the measures in China, the Greek market moves up, expecting positive developments regarding the extension of country’s loan repayment time and the reduction of rate.

Referring to the latest degradation by Fitch Ratings, he stressed that the Greek market is willing to remain cautiously optimistic, considering the degradation as mild. Moreover, he estimates that a sharper upward reaction is expected if the market starts to move with greater intensity.

“Despite currently being rated at "junk" levels by all 3 major agencies, Fitch΄s "smooth" downgrade is expected to provide the market with a positive short-term catalyst, as investors anticipated the negative rating to bring the Greek economy down by 2-3 notches”, says Pegasus Securities in its morning report.

Pegasus expects the market to move in positive territories today, “with the conclusion of the Euro group/Ecofin Summits (tomorrow) possibly providing the reasoning for more significant trend amelioration. Technically, we expect the GI to trade in the 1,440 - 1,460 units today, which consist the Index΄s intraday pivot point and 1st resistance level respectively.”

Across the board, the General Index is at 1465.95 points, up 1.39%, despite its low opening. So far, the turnover stands at EUR33.63mn, while a total amount of 88 shares rise, 34 decline and 60 remain unchanged.

Banks move up by 0.56%, shaping currently at 1281.55 units. ATEbank’s gains stand out, while Piraeus Bank declines by 3.07%.

Viohalco and OTE post profits of more than 3%, while Jumbo, PPC and Ellaktor move up by more than 2%.

(capital.gr)

 

[tommy271]

Fitch May Review Greece Rating If Market Access Doesn’t Improve

January 17, 2011, 7:00 AM EST

By Scott Hamilton and Maryam Nemazee

Jan. 17 (Bloomberg) -- Fitch Ratings may review its credit rating on Greece unless the country is able to convince investors by the end of the year that it will be able to return to debt markets in 2012.

“We regard the ability of Greece to get back in the market as quite important,” Fitch analyst Chris Pryce said in an interview in London on Bloomberg Television’s “The Pulse” with Maryam Nemazee today. Greece’s European Union-International Monetary Fund bailout last year “assumes they’ll be back in the market by 2012, next year, so we’d like to see indications of market acceptance of that toward the end of this year. If there isn’t, then we would certainly reconsider our rating,” he said.

Greece lost its last investment-grade rating as Fitch last week downgraded the country’s debt one level to BB+, or junk. The cut puts the rating at the same level as at Moody’s Investors Service and Standard & Poor’s. The Fitch grade has a negative outlook, indicating that the credit evaluator is more likely to cut it than to raise it or keep it unchanged.

“The whole IMF/EU program is based on the assumption that there will be growth apparent toward the end of this year and that is beginning to look a little less likely” than six months ago, Pryce said.

While it is not “inevitable” that Greece has to restructure its sovereign debt, the euro area may see some of its members reschedule their borrowings, the analyst said.

“I expect the euro area to survive in pretty much the same form and with the same membership as now,” Pryce said. “That’s not the same thing as saying one or two countries may not reschedule. They may.”


(Bloomberg)

 

[tommy271]

Spread sempre in oscillazione stabile.
Ora intorno a 825 pb.

Molto bene l'indice ASE della Borsa di Atene a 1471 punti, segna un + 1,81%.

 

[tommy271]

PM: Stake is to create a better Greece




(ANA-MPA) -- The country's big stake is to create a different and better Greece," prime minister George Papandreou stressed on Monday, adding that the government's response to this wager is "yes, Greece is changing, will change, and will always be changing", in a greeting to an Information and Communications General Secretariat event for heads of the Greek embassy abroad press offices and directors of the Greek National Tourism Organisation (GNTO) offices abroad.

Papandreou recalled that Greece had found itself at a "turning point" at which it had to decide whether to change or not.

The premier explained that the dilemma concerned not only putting the country's fiscal finances in order which, he noted, was absolutely self-evident and was being achieved with sacrifices and efforts by all the Greeks, but also concerned combating the symptom.

The present crisis is an opportunity, and it is also necessary to remedy the ailment, the epidemic and the disaster-mongering that the effort is in vain, that the Greeks are unable to shape their own fate and that "others will decide for us", he added.

"We saved the country from the immediate danger, and it is in our hands to build the Greece of tomorrow with a plan," the premier said, adding that what is sought is "the creation of a radically new model in the direction of social freedom, lawfulness, creativity and progress, with a productive and viable economy, green growth, and a new people-oriented model of collective organisation and operation."

(ana.gr)