New “episodes” have added to the horror of the next loan installment to Greece and the early completion of the PSI, causing a nervous breakdown … on Athens Stock Exchange.
The “tug of war” between the International Monetary Fund and the European Committee for Greek debt sustainability, but also the political maneuvers of the German side, have cast doubts over the whole second program of Greek rescue while avoiding a disorderly default.
Thus, the market’s “relief” after an episodic vote for the new loan agreement by the Greek Parliament is now followed by new “headaches” that fuel pressure in ASE reinstating the General Index below 800 units.
The feeling among market analysts after two consecutive declining sessions and cumulative losses of 6.97% for the General Index, is that there is room for further “correction”, especially as the situation of the next installment’s release remains unclear. Furthermore, the electoral component acquires greater significance as do the bond swap processes in the PSI.
On the board, the General Index closed 5.11%, down at 776.28 points, moving downward in almost the whole trading day, and losses reached -5.13%.
(source: capital)
Salonica
18°
