Wednesday, January 28, 2015

Investors sell stocks and bonds: Tsipras Plans: Greece … – ABC Online

Investors sell stocks and bonds: Tsipras Plans: Greece … – ABC Online

Wednesday, 28.01.2015, 14:33
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Investors sale in grand style Greek stocks and bonds. The result is a huge price drop on the financial markets of Greece. The new government must adapt to fierce headwind in the capital markets.

No sooner has the new left-right government in Greece presented preliminary plans, the financial markets are the country literally crashed. On Wednesday, both the stock and the prices of government bonds suffered heavy losses. The stock market benchmark index ASE in Athens broke at times of 7.42 percent to 725.20 points a.

A violent reaction showed up in Athens to trade in Greek government bonds. They were repelled by many investors

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The strong sales led to falling prices. In turn, yields rose sharply. For instruments with a maturity of ten years, the sales attended the open market for an increase in yield by 0.92 percentage points to 10.15 percent. The interest on the free market has thus achieving the same level it had reached before the announcement of the massive purchase program of government bonds by the European Central Bank (ECB).
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At the free market-dated government bonds are traded

The returns indicate the actual price, to pay the State for new debt in the capital market – more than seven percent they are no longer acceptable as long. Greece has to rely on credit assistance programs of international donors for years. At the free market current government bonds are already traded.

Before the first meeting of the new Cabinet on Wednesday in Athens first plans of the new government were known to stop privatization. Initially, this concerns the electricity company DEI, the Greek Energy and Environment Minister Panagiotis Lafazanis told the radio station Skai. In addition, the Greek State Railways are not to be sold. There are also reports that a 320 million-euro investment in the Chinese container port of Piraeus to be stopped.

In addition Tsipras had given in his cabinet a sharp critic of austerity responsibility for finances. That worries investors. The economist Giannis Varoufakis to lead as finance negotiations with international donors

Surf. Tip: More on the current developments in Greece in the news ticker


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