Markets seem to weigh the electoral victory of Syriza as they are recovering, containing this morning’s losses.
In the first comments after the election of Syriza, analysts saw risks of reigniting uncertainty in the eurozone.
Despite the recovery in key markets in Europe, the Greek stock market continues to fall.
The ATHEX general index declines 1.70% to 826.17 points while FTSE is at 257.65 points and at -3.39%.
The banking sector in ATHEX is under strong pressures, recording losses of 6.74%.
National Bank falls 4.79%, Alpha Bank is down 5.79%, Piraeus Bank slumps 10.40% and Eurobank drops 6.36%.
The Bank of Cyprus stock loses 1.06% to €0.186 in the CSE while in Athens it is at €0.185 and at -2.63%.
In the European markets the trends are mixed while the euro recovered after a 11-year low, after the victory of Alexis Tsipras. In London, FTSE 100 is recording losses of 0.36%, in Paris CAC is up 0.16% and in Frankfurt DAX is at +0.54%.
Euro recovers
The value of the euro is at $1.1234 recording an increase of 0.27%. In the morning the euro was down to $1.1098, the lowest level since September 2003.
The euro against the yen moves at 132.69 increasing by 0.56%, having fallen to 130.14 yen, its lowest point since the September 6, 2013.
According to Reuters, the election of Tsipras was the second blow for the euro after the European Central Bank presented its bond-buying program last week.
“At the moment, the market believes that if there is any (debt) restructuring it would only involve the official sector and for now, the possibility of Greece leaving the euro zone even with the incoming government is small”, said Sebastien Galy, senior foreign exchange analyst at Societe Generale in New York.
The Asian markets recorded a drop this morning while the futures in Wall Street show a decline too.
MSCI Asia Pacific fell 0.3% and the futures of Standard & Poor’s 500 are down 0.25%.
Oil prices go down
Oil prices retreat in Asia today after the victory of Syriza in the parliamentary elections in Greece. The price of WTI March delivery fell 45 cents to $45.14 / barrel in early trade.
The Brent of North Sea fell by 35 cents to $48.44 / barrel.
The euro fell 7.4% against the dollar this year, with the decrease being the largest among the 16 major currencies tracked by Bloomberg.
Regarding CSE, the general index falls by 0.67% to 79.03 points while FTSE is at 46.56 points and at +0.22%.
In the first comments after the election of Syriza, analysts saw risks of reigniting uncertainty in the eurozone.
Despite the recovery in key markets in Europe, the Greek stock market continues to fall.
The ATHEX general index declines 1.70% to 826.17 points while FTSE is at 257.65 points and at -3.39%.
The banking sector in ATHEX is under strong pressures, recording losses of 6.74%.
National Bank falls 4.79%, Alpha Bank is down 5.79%, Piraeus Bank slumps 10.40% and Eurobank drops 6.36%.
The Bank of Cyprus stock loses 1.06% to €0.186 in the CSE while in Athens it is at €0.185 and at -2.63%.
In the European markets the trends are mixed while the euro recovered after a 11-year low, after the victory of Alexis Tsipras. In London, FTSE 100 is recording losses of 0.36%, in Paris CAC is up 0.16% and in Frankfurt DAX is at +0.54%.
Euro recovers
The value of the euro is at $1.1234 recording an increase of 0.27%. In the morning the euro was down to $1.1098, the lowest level since September 2003.
The euro against the yen moves at 132.69 increasing by 0.56%, having fallen to 130.14 yen, its lowest point since the September 6, 2013.
According to Reuters, the election of Tsipras was the second blow for the euro after the European Central Bank presented its bond-buying program last week.
“At the moment, the market believes that if there is any (debt) restructuring it would only involve the official sector and for now, the possibility of Greece leaving the euro zone even with the incoming government is small”, said Sebastien Galy, senior foreign exchange analyst at Societe Generale in New York.
The Asian markets recorded a drop this morning while the futures in Wall Street show a decline too.
MSCI Asia Pacific fell 0.3% and the futures of Standard & Poor’s 500 are down 0.25%.
Oil prices go down
Oil prices retreat in Asia today after the victory of Syriza in the parliamentary elections in Greece. The price of WTI March delivery fell 45 cents to $45.14 / barrel in early trade.
The Brent of North Sea fell by 35 cents to $48.44 / barrel.
The euro fell 7.4% against the dollar this year, with the decrease being the largest among the 16 major currencies tracked by Bloomberg.
Regarding CSE, the general index falls by 0.67% to 79.03 points while FTSE is at 46.56 points and at +0.22%.
3287.99
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