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Athens News Agency: News in English, 11-07-18

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Greek bond market closing report
  • [02] Samaras details policy to Clinton
  • [03] Stocks extend decline

  • [01] Greek bond market closing report

    (ANA-MPA) -- Increasing concerns over a European solution to a Greek debt crisis continued pressuring regional bond spreads on Monday.

    The yield spread between the 10-year Greek and German benchmark bonds widened to 15.53 pct in the domestic electronic secondary bond market, from 14.67 pct on Friday, with the Greek bond yielding 18.17 pct and the German Bund 2.64 pct. The Spanish and Italian bonds yielded more than 6.0 pct.

    Turnover in the market was a low 11 million euros, all sell orders. The 10-year benchmark bond was the most heavily traded security with a turnover of 3.0 million euros.

    In interbank markets, interest rates were largely unchanged. The 12-month rate was 2.16 pct, the six-month rate 1.81 pct, the three-month rate 1.60 pct and the one-month rate 1.46 pct.

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    [02] Samaras details policy to Clinton

    (ANA-MPA) -- Main opposition New Democracy (ND) leader Antonis Samaras met with visiting US Secretary of State Hillary Clinton on Monday in Athens, where he again reiterated his absolute disagreement with whatever government ideas for a "selective default" to deal with the ongoing debt crisis.

    "As I said to Ms Hillary Clinton, ND does not agree with the so-called participation of the private sector in state bond risk," Samaras said.

    The meeting with Clinton focused mainly (ANA-MPA) on international economic developments and the handling of Greece's debt problem.

    Outlining the reasons for his objections to the plan, Samaras noted that a selective default would make it more difficult for the European Central Bank to supply liquidity to Greek banks using Greek state bonds as collateral.

    He also noted that a selective default will be a psychological blow to Greece, with uncontrollable repercussions for the real economy, while it would trigger a debt restructuring that would have a negative impact on the banking system and insurance funds. (ANA-MPA)

    Samaras accused the government of trying to "dress-up" a dire situation, which would actually make the recession even deeper. The main opposition noted that his objections were backed up by the ECB's refusal to agree to a selective default and its warnings that it will not accept the bonds of a state that has proceeded to either a partial or general cessation of payments. (ANA-MPA)

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    [03] Stocks extend decline

    Stocks continued losing ground for the 11th consecutive session in the Athens Stock Exchange on Monday, as the market quickly absorbed an initial buying activity spurred by the positive results of stress tests on Greek banks. The composite index of the market fell 0.44 pct to end at 1,171.70 points, after rising as much as 1.38 pct during the session. The index is now 10.45 pct down after the 11-day decline. Turnover remained a low 62.602 million euros.

    The Big Cap index fell 0.26 pct, the Mid Cap index rose 0.44 pct and the Small Cap index eased 0.73 pct. MIG (4.0 pct), Cyprus Bank (3.97 pct) and Ellaktor (3.08 pct) were top gainers among blue chip stocks, while Eurobank (4.70 pct), Piraeus Bank (3.45 pct) and OPAP (2.61 pct) were top losers.

    The Media (4.44 pct), Financial Services (2.14 pct) and Telecommunications (0.71 pct) scored gains, while Travel (2.4 pct), Chemicals (2.04 pct) and Constructions (1.12 pct) suffered the heaviest percentage losses of the day.

    Broadly, decliners led advancers by 84 to 53 with another 59 issues unchanged. Sanyo Hellas (12.5 pct), HOL (10 pct) and Vovos (8.82 pct) were top gainers, while Boutaris (11.11 pct), Koumbas (11.11 pct) and ELBE (8.47 pct) were top losers.

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

    More details on the subscriber's page of ANA-MPA | Subscription request form


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