A ray of light broke after the European leaders agreed on the support package to Greece, ruling out possibility of a Greek default, at least for the near future, while ASE records profits of 2%, helped by Greek banks.
European leaders agreed on how to rescue Greece at the EU Summit in Brussels, while Greek FinMin agreed with the Troika on the new measures. The passing of the medium-term fiscal program on June 28 is expected to provide the trend in the coming days, as Greece’s creditors speak of voting or default.
Following yesterday’s agreement, things seem to get on track, as every indication leads to a rollover of Greek debt, Charalambos Angeletopoulos, head of business development at Prelium Securities, told Capital.gr.
The government’s agreement with the troika on the medium-term program is also positive, said Charalambos Angeletopoulos, adding that only its passing is now pending, which it would be achieved most probably.
“The disbursement of the fifth instalment and the placing of a second rescue package are of crucial importance, as the Greek default risk, in the full meaning of the term, moves away for the next 2 years”, he estimates.
Moreover, he notes that there is room for positive reversal of the sentiment in the Greek stock marker, in case there is political willingness and national consensus in the implementation of the –maybe unfair but imperative- measures.
Across the board, the General Index is at 1,262.4 units, up 1.66%, moving into positive territory since the opening. The turnover stands at €21m, while a total amount of 81 shares rise, 27 decline and 33 remain unchanged.
