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Wednesday, 10/08/2014 7:52:07 AM

Wednesday, October 08, 2014 7:52:07 AM

Post# of 19165
Dark Clouds Hover Over These Three Stocks: National Bank of Greece (ADR) (NYSE:NBG), Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), Glu Mobile Inc. (NASDAQ:GLUU)
by Dorris Williams / October 8, 2014 Share This

Facebook 0 Tweet Previous articleNext articleNational Bank of Greece (ADR) (NYSE:NBG) was hit hard after bearish analyst note, claiming the likelihood of early national elections in Greece could make the next six months tricky for investors.

Citi Research said in a note yesterday “Possible deadlock in the early-2015 vote among MPs to choose the next Greek president could trigger early national parliamentary elections in Greece in spring 2015, in our view, with a distinct possibility that the next government will be led by the opposition, anti-bailout, party SYRIZA. This is likely to take the degree of confrontation with Greece’s official lenders much higher than in the past, possibly jeopardising still-fragile foreign investor sentiment on Greece. An early exit from the bailout programme, as the government is pledging, risks yielding a similar result. We believe Greece needs foreign capital inflows to support the economic recovery, given the still-tight domestic liquidity situation and recent signs of weakening economic momentum. Greece will likely accept some form of external monitoring by official creditors continuing beyond 2014, possibly agreeing on a precautionary credit line after the EFSF programme expires in Dec-14. While contagion from Greece to the rest of Europe is likely to remain limited (barring the unlikely scenario of renewed Grexit worries), we reckon idiosyncratic risks around Greek assets will remain elevated in coming months.”

http://www.marketsemerging.com/dark-clouds-hover-over-these-three-stocks-national-bank-of-greece-adr-nysenbg-sunesis-pharmaceuticals-inc-nasdaqsnss-glu-mobile-inc-nasdaqgluu/1714120/

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