The Athens Stock Exchange enjoys significant gains on Thursday, influenced by the banking sector, in the aftermath of the Eurogroup deadlock last night.
In a climate of contradictions and despite the long meeting, the two sides were unable even to agree on a joint statement, after Greek side disagreement on including the term "extension" for the current program.
According to government spokesman, Gavriil Sakellaridis, speaking to ANT1, the phrase "extension of the memorandum" led to the cancellation of the joint statement after the end of yesterday's Eurogroup, as the Greek side did not accept such a formulation.
Eurogroup chief, Jeroen Dijsselbloem at the press conference stated that there was an intense and constructive discussion, some progress was made but not enough to reach a joint conclusion.
Despite of the uncertainty associated with the political developments the Athens stock exchange is reacting positively.
Specifically, the general index is recording gains of 3.69% to 822.34 points while FTSE is at 595.48 points and at +4.57%.
The banking sector soars 10%.
National Bank surges 11%, Alpha Bank gains 9.18%, Eurobank is up 10.07% and Piraeus Bank jumps 10.48%.
The Bank of Cyprus stock in the CSE remains unchanged at €0.181 while in Athens it puts on 1.66% to €0.184.
On the contrary Greek yields moved a little higher with the 3Y yield at 20,835% from 20,392% yesterday.
According to Piraeus Equity, the stock market closed yesterday with a fall of 4% due to the negative expectations for the achievement of a Greece-EU deal at the Eurogroup yesterday while today the market will focus on the political developments, that is, yesterday's Eurogroup meeting and today’s EU summit to get direction.
Eurobank Equities expects a slightly positive reaction today stressing that the focus should be on any public statements by the EU and Greek officials ahead of the Eurogroup on Monday.
At today's summit, analysts do not expect any statements about Greece.
As for the Cyprus Stock Exchange, it remains unchanged. The general index is at 75.49 points while FTSE is at 44.31 points.
In Europe, no significant change is observed as the euro area finance ministers postponed decisions for Greece for next week.
FTSE 100 in London remains unchanged, CAC 40 in Paris falls 0.20% and DAX in Frankfurt adds 0.10%.
Developments in Greece have affected the euro, which drops by 0.2% to $1.1311 from $1.1353.
In a climate of contradictions and despite the long meeting, the two sides were unable even to agree on a joint statement, after Greek side disagreement on including the term "extension" for the current program.
According to government spokesman, Gavriil Sakellaridis, speaking to ANT1, the phrase "extension of the memorandum" led to the cancellation of the joint statement after the end of yesterday's Eurogroup, as the Greek side did not accept such a formulation.
Eurogroup chief, Jeroen Dijsselbloem at the press conference stated that there was an intense and constructive discussion, some progress was made but not enough to reach a joint conclusion.
Despite of the uncertainty associated with the political developments the Athens stock exchange is reacting positively.
Specifically, the general index is recording gains of 3.69% to 822.34 points while FTSE is at 595.48 points and at +4.57%.
The banking sector soars 10%.
National Bank surges 11%, Alpha Bank gains 9.18%, Eurobank is up 10.07% and Piraeus Bank jumps 10.48%.
The Bank of Cyprus stock in the CSE remains unchanged at €0.181 while in Athens it puts on 1.66% to €0.184.
On the contrary Greek yields moved a little higher with the 3Y yield at 20,835% from 20,392% yesterday.
According to Piraeus Equity, the stock market closed yesterday with a fall of 4% due to the negative expectations for the achievement of a Greece-EU deal at the Eurogroup yesterday while today the market will focus on the political developments, that is, yesterday's Eurogroup meeting and today’s EU summit to get direction.
Eurobank Equities expects a slightly positive reaction today stressing that the focus should be on any public statements by the EU and Greek officials ahead of the Eurogroup on Monday.
At today's summit, analysts do not expect any statements about Greece.
As for the Cyprus Stock Exchange, it remains unchanged. The general index is at 75.49 points while FTSE is at 44.31 points.
In Europe, no significant change is observed as the euro area finance ministers postponed decisions for Greece for next week.
FTSE 100 in London remains unchanged, CAC 40 in Paris falls 0.20% and DAX in Frankfurt adds 0.10%.
Developments in Greece have affected the euro, which drops by 0.2% to $1.1311 from $1.1353.
3287.99
1275.09
