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