The market reacts positively on Wednesday amid the uncertainty about the future of the economic program of Greece and the narrow time margin for Athens. The bond yields are moving downwards and investors assess their movements within the framework of the negotiations.

The Greek government is today expected to ask for an extension of the loan agreement, as confirmed by Finance Minister Yanis Varoufakis.

“We should extend the credit programme by a few months to have enough stability so that we can negotiate a new agreement between Greece and Europe”, Greek finance Minister stated from Brussels.

For this extension there will be "obviously three or four conditions”, Varoufakis added without giving further details.

Ahead of the submission of the request, the Athex general index is recording gains of 1.45% to 850.8 points while FTSE is at 253.19 points and at +2.1%.

The banking stocks surge 6.62%.

National Bank soars 6.78%, Alpha Bank puts on 5.5%, Eurobank gains 6.8% and Piraeus Bank jumps 8.70%.

The Bank of Cyprus stock in both the CSE and ASE is down by 1,1% at €0,177.

The yield of the ten-year Greek bond falls to 9.7% from 10.1% yesterday while that of the three-year bond to 17.1% from 18.2%.

Meanwhile, the CSE general index is down by 0.25% to 74.43 points.

The European stock markets are going up, leading stocks to a seven-year high amid rumours for a possible agreement between Greece and its lenders.

FTSE 100 in London puts on 0.23%, CAC 40 in Paris is up 0.8% and DAX in Frankfurt gains 0.49%.