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Athens Macedonian News Agency: News in English, 14-10-21

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 yields down, stocks rally on Friday

  • [01] Greek bond yields down, stocks rally on Friday

    ANA-MPA -- Greek stocks and bonds showed strong signs of recovery after three days of selling pressure on Friday, buoyed up by the prime minister's statement in Milan that Greece was discussing a precautionary credit line with its creditors. Bond yields shrank significantly by close of trade and stocks recovered 50 pct of lost ground.The yield spread between the 10-year Greek and German benchmark bonds shrank significantly to 7.24 pct in the domestic electronic secondary bond market on Friday, from 8.31 pct the previous day, as a comment made by Prime Minister Antonis Samaras helped to reduce pressure in the market.

    The Greek bond yielded 8.10 pct and the German Bund yielded 0.86 pct. Turnover was a heavy 146 million euros, of which 96 million were sell orders and the remaining 45 million euros were buy orders.

    Greek stocks recovered strongly in the last trading day of a turbulent week in the Athens Stock Exchange, gaining almost 50 pct of the ground lost in the previous three sessions. Samaras's statement, combined with comments of support made by European and ECB officials helped reverse a very negative climate in the market. Also, a decline in the 10-year Greek bond yield from 9.0 pct on Thursday to around 8.0 pct on Friday, coupled with a rebound in other European markets helped to boost sentiment.

    The composite index jumped 7.21 pct to end at 931.81 points, after rising as much as 8.14 pct during the sessions. On a weekly basis, the index was down 7.27 pct, for a net loss of 12.2 pct in October and 19.86 pct so far this year.


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