Business | Daily | Tourist
INFORMATION SERVICES

ATHENS –  Greek stocks and bonds on Oct. 17 showed strong signs of recovery after three days of selling pressure, 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 percent of lost ground. The yield spread between the 10-year Greek and German benchmark bonds shrank significantly to 7.24 percent in the domestic electronic secondary bond market, from 8.31 percent the previous day, as a comment made by Premier Antonis Samaras helped to reduce pressure in the market.

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

Samaras’ 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 percent on Oct. 16 to around 8 percent on Oct. 17, coupled with a rebound in other European markets helped to boost sentiment.

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

The post Greek Stocks, Bonds, Rebound appeared first on The National Herald.

Source: The National Herald
Share it now!
More
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    Locations:
    Athens
    November 21, 2017, 5:24 pm
    Partly sunny
    Partly sunny
    14°C
    real feel: 14°C
    current pressure: 1020 mb
    humidity: 41%
    wind speed: 2 m/s SSW
    wind gusts: 2 m/s
    UV-Index: 0
    sunrise: 7:12 am
    sunset: 5:10 pm
     
  • Currency