MARKET NEWS
Tuesday, 3 February 2015 - 12:12
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Rally Relief on Athex |
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Greek
shares soar for a second day, as market anticipates a positive approach
in greek debt, as stated uesterday by Mr. Varoufakis in FT. He proposed
a debt swap instead of a debt haircut (a term that is disliked by
Greece΄s creditors). The swap may include two new types of bonds.
One type would be indexed to nominal GDP replacing European loans to Greece. The second type could be a perpetual bond replacing bonds owned by ECB and National Banks (c€27 bn). Banking sector leads the gains for a second day, with NBG (+15.84%), Alpha Bank (+13.94%), Eurobank (+11.90%) and Piraeus Bank (+11.17%). The transaction activity is strong reaching 73 million euro. |