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

[tommy271]

Increased Turnover And Selective Moves In ASE



With increased volume, following a surprising and unexpected rally, the Greek market continues to examine developments about Greek debt, as banks maintain an outperforming trend.

It is quite early to determine whether the momentum has changed, since everything that has to do with country’s debt is still under negotiation, said Marfin Analysis in a report.

“On the other hand, it seems that opposition’s party mild assent and the safeguarding of the 5th instalment, ahead of the new fiscal measures, has offered some short term relief”, said Marfin, adding that the banking sector should be once again in the spotlight as apart from the macro developments.
Pegasus Securities comments that yesterday΄s abrupt ascending outbreak would most likely be continued during today΄s session, “at least early during the day, as the pressure is expected to continue to be discharged, with the banking equities remaining in the epicenter of investors΄ interest.”

It considers that “aforementioned blast finds its grounds on hearsay related to a possible easing of pressures asserted until now by specific EU Member States on Greece΄s debt-load rollover, as well as rumors concerning a gradual convergence on the Greek State - Troika talks in relation to the additional austerity measures. “

In this context, Pegasus continues to believe that “market fundamentals have not yet ameliorated in any way, meaning that yesterday΄s explosion, although supported by significant trading volume, should be treated with cautiousness, with the GI possible losing some of its strength later during the day.”

Kyprou Securities notes that it is optimism about an agreement between Greece and IMF/EU/ECB and decisions on future policy taken in June that will lead the ASE. It is getting optimistic – yet cautious – on the ASE.
Across the board, the General Index is at 1,310 units, with marginal profits of 0.04%. The turnover stands at €58.6m, while a total amount of 59 shares rise, 43 decline and 36 remain unchanged.

Banks are at 985.20 units, up 1.10%. Marfin Popular Bank jumps by 3.17%, while Alpha Bank and National Bank gain 2.24% and 2.04% respectively.

(capital.gr)

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Il commento di metà giornata alla Borsa di Atene.

 

[buttozzo]

buongiorno a tutti ciao tommy vi ho tradito questi giorni per la dexia questo fine settimana sapremo tutto se no lunedi' libri in tribunale ciao

 

[METHOS]

scusate l'OT.

Gaudente non ha bisogno che io risponda per lui, ma in effetti il "mondo" degli investimenti oggi è pressochè smisurato.

Io fatico a vedere in queste scelte di investimento (bond che quotano al 50% del valore nominale) la "tranquillità dell'obbligazione" che ha un floor sicuro, e quindi non capisco perchè non ci si possa rivolgere ad esempio all'azionario (o ETF) per idee di investimento che possono portare a rendimenti (in entrambe le direzioni...) a due o tre cifre.

Ovvio che parlo da un pulpito sbagliato (prevalentemente azionario USA, misto di storiacce di ristrutturazione ma anche settori in forte trend di crescita, rimasta oltre il 20% anche nel periodo della crisi più nera [data center, ma oggi fa chic chiamarlo cloud computing]), ma con un conto ad esempio con Directa vi assicuro che vi listano tutto quello che è tradabile negli USA... e ce n'è...

Io ogni tanto sfotto il mio povero amico sciarc, ma quando parlo di Apple a $80 indico che abbiamo trascorso un periodo (spero irripetibile...) in cui bastava scegliere quasi a caso, usando come criterio il partire dalla A cercando aziende a forte crescita e dalle idee innovative... e chi oggi non inciampa in un iphone/ipad/ipod?

Io ho fatto i miei errori più grandi fossilizzandomi su alcune storie, e perdendo trend che avevo sotto gli occhi (ad esempio girando gli usa il blackberry, ma anche la bolla immobiliare USA, alcune realtà Internet, etc. etc.) . Continuo a farli, ma che si debba/possa ogni tanto alzare lo sguardo oltre certi investimenti è un consiglio saggio, anche se lanciato come una provocazione... oggi si ha accesso quasi a tutto...

fine OT.

Paolo tu hai ragione come anche Gaudente il problema è che uscire dall'obbligazionario (grecia a parte in quanto oggi è puramente una scommessa) per molti è difficile o estremamente rischioso rispetto ad altre forme probabilmente più redditizie.
Non tutti hanno le vostre capacità di analisi, io per primo.


Sull'uso degli etf sono pienamente d'accodo. Ad es. sugli hy una volta entravo sui singoli emittenti mentre oggi mi va benissimo un bell'etf hy, prendo di meno ma diversifico parecchio.
Stò inoltre approfondendo il discorso su una serie di etf (ad es. uno sui REIT e altre cose del genere) proprio per incominciare a smobilittizzare posizioni sui bond singoli.
Uscisse anche un bell'etf sugli emergenti in euro con rilascio cedola...
Chiudo OT.

 

[METHOS]

buongiorno a tutti ciao tommy vi ho tradito questi giorni per la dexia questo fine settimana sapremo tutto se no lunedi' libri in tribunale ciao

azz... speriamo di no. Ne ho giusto per 5000 euro sul 2014. Mi sto toccando ripetutamente...

 

[tommy271]

buongiorno a tutti ciao tommy vi ho tradito questi giorni per la dexia questo fine settimana sapremo tutto se no lunedi' libri in tribunale ciao

Dexia è pesantemente investita in Grecia.

 

[tommy271]

Greece Needs Brady Bond-Style Aid, Merkel Adviser Bofinger Says

By Rainer Buergin and Francine Lacqua - Jun 1, 2011 11:40 AM GMT+0200 Wed Jun 01 09:40:40 GMT 2011

Greece’s debt problems can be solved by a Brady bond-style rescue operation in which Greek government bonds are swapped against debt issued jointly by euro-region members, said German government adviser Peter Bofinger.
Joint euro-region bonds would be helpful for Greece because they would carry a very low interest rate and they would be good for banks because lenders would receive AAA-rated bonds in exchange for lower-rated paper, he said in a Bloomberg Television interview in Munich today.
“Sooner or later we have to come to the euro bonds,” Bofinger said. “There is definitely no alternative to the instrument and it would really improve the situation considerably.”
Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of euro-region finance ministers, said on May 12 that joint euro-area bond issuance is a “reasonable” proposition whose time will come. German Finance Minister Wolfgang Schaeuble rejected the idea as recently as May 18.
Brady bonds, named after then U.S. Treasury Secretary Nicholas Brady, enabled 17 countries in Latin America, Africa, Asia and Eastern Europe to swap bad loans for new debt starting in 1989, some of which was backed by zero-coupon U.S. Treasuries.
While debt restructuring is “off the table” because of the domino effect on European markets, alternatives such as a Vienna Initiative program, which arrested contagion in Eastern Europe, are being considered, European Union Economic and Monetary Affairs Commissioner Olli Rehn said in an interview yesterday at Bloomberg headquarters in New York.
The Vienna-style plan would aim to persuade creditors to buy new bonds from the Greek government when existing ones mature.




‘Political Will’

“My approach would be more a kind of a Brady-bond approach that one offers an exchange of Greek bonds against EU bonds,” said Bofinger. Still, Chancellor Angela Merkel and other EU politicians “lack the political will for a really bold solution that is required,” he said.
Saddled with Europe’s heaviest debt load, Greece is seeking additional loans after last year’s 110 billion-euro ($158 billion) European-led package was insufficient to plug its fiscal hole.
European Central Bank officials have said the “reprofiling” of Greek debt that’s also being considered by Rehn is tantamount to default and would prompt the Frankfurt- based central bank to refuse to accept Greek bonds as collateral in their emergency funding operations, wiping out the capital of the Greek banking system.
“I think the ECB might have to reconsider its position because if we just do nothing, if we just let the debt pile up, the risk could be that more and more debt is piling up in the ECB’s balance sheet because, more or less, the ECB is the lender of last resort,” said Bofinger.
The EU needs to find “comprehensive approaches” to deal with the crisis, Bofinger said. The current wait-and-see approach in a bid to buy time “will not succeed,” he said.



***
Volendo, possono leggere il nostro forum.

Ci sono tante idee ... escludendo Gaudente .

 

[tommy271]

EU Considers Sweeteners for Greek Debt Extension

By James G. Neuger - Jun 1, 2011 12:20 PM GMT+0200

Wed Jun 01 10:20:35 GMT 2011


Greece’s next aid package may include incentives for bondholders to roll over maturing debt without triggering a credit-rating downgrade that would roil Europe’s banking system, two people with knowledge of the talks said.
Investors may be offered preferred status, higher coupon payments or collateral as inducements to buy bonds replacing Greek debt maturing between 2012 and 2014, said the people, who declined to be identified because the talks are in progress.
The sweeteners would be part of a revised aid package, to be decided by the end of June, amounting to a voluntary extension of Greece’s debt maturities that aims to skirt the technical definition of default, the people said.
European officials are trying to prevent the euro region’s first sovereign default as investors dump Greek bonds on concern the government in Athens won’t be able to meet its bond obligations. Greece’s financing needs beyond last year’s 110 billion-euro ($159 billion) package may be known tonight or tomorrow, as European and International Monetary Fund officials complete work on an assessment of Greece’s economy.
Senior aides to European finance ministers are discussing elements of the package in Vienna today. The ministers themselves may meet as early as next week, with final decisions due at a summit of government leaders on June 23-24.
So-called negative incentives are also under consideration, such as cutting off old Greek bonds from eligibility for use as collateral with the European Central Bank, the people said.
Policymakers are also looking at other ways of encouraging bondholders to maintain exposure to Greece, along the lines of the 2009 “Vienna Initiative” that leaned on creditors to roll over expiring bonds, the people said.

 

[tommy271]

German FinMin spokesman: Expects troika report on Greece at absolute earliest on Friday night

By Gerry Davies || June 1, 2011 at 10:15 GMT

• Expects Greek aid programme to be jointly continued by all sides
• Must be crystal clear how further delays in Greek privatisation will be avoided
• Further aid for Greece can only be possible when Greece makes greater efforts on its own and private creditors involved
• How Greece’s private creditors can be involved is not yet clear
• Can’t be right that public only carries risks on Greece, but does not benefit from positive effects

I’m getting more confused by the minute. Is it me or are people talking in riddles today?
Elsewhere

• Merkel says will only decide after troika report what to do on Greece

There we have it; they haven’t got a clue what they’re going to do.


(forexlive.com)

 

[tommy271]

Russian investor buys into Greece's Piraeus Bank






MOSCOW/ATHENS, June 1 | Wed Jun 1, 2011 11:40am BST

MOSCOW/ATHENS, June 1 (Reuters) - ICT Group, the vehicle of Russian investor Alexander Nesis, said on Wednesday that it had bought a minority stake in Piraeus Bank (BOPr.AT), whose share price has been hit hard by Greece's financial crisis.
ICT Group has acquired a stake of just under 5 percent in Piraeus Bank on the stock market and via a recent supplementary share offering, a spokesman for ICT said.
"It's a private bank, not a state bank -- they are in much worse shape," ICT Group spokesman Vladislav Vershinin said, confirming a Russian newspaper report on the transaction.
The Vedomosti daily said the share purchases had cost ICT Group around 40 million euros ($57.5 million) and valued Piraeus at around a quarter of its book value.
In Athens, a Piraeus Bank official who declined to be named noted ICT had one seat on the bank's board.
"It's a long-term investment," he told Reuters. "ICT built its position through the open market in last few months in agreement with Piraeus management," the official said.
ICT Group becomes the second foreign investor to invest in Piraeus recently after Czech PPF bought a 5.7 percent stake in the Greek bank in late April.
ICT and PPF are co-investors in Russian bank Nomos (NMOSq.L), which recently floated on the London stock market.


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Corporate.

 

[tommy271]

Intanto la Borsa rimane stazionaria, lievemente negativa a 1305 punti con - 0,33%.
I nostri spread dopo aver stretto sino a 1324 pb. ora sono in allargamento a 1338 pb.