Followers | 241 |
Posts | 12150 |
Boards Moderated | 3 |
Alias Born | 04/05/2009 |
Monday, May 09, 2016 7:25:28 PM
By Dimitra DeFotis
Discussion about cutting the Greek debt burden at an extraordinary meeting between Greece and its Eurozone creditors helped the Global X MSCI Greece exchange-traded fund (GREK) rise nearly 3% Monday.
Greek bank stocks Alpha Bank (ALBKY), Piraeus Bank (BPIRF), National Bank of Greece (NBGGY) and Eurobank Ergasias (EGFEY) rallied on the positive news. Greek banks got the thumbs up from investor Richard Deitz of VR Capital Group at the Sohn Investment Conference last week.
Things looked more bleak over the weekend, when Greeks took to the streets in front of the parliament building in Athens and unions declared a general strike to show displeasure over more potential pension and other cuts. The Eurogroup is still demanding more austerity contingencies if Greece cannot meet its bailout targets. The risk is that Greece won’t be able to meet its debt obligations in July without an agreement — it needs another release of funds from creditors. For now, Greece won’t have to vote specific measures into law, The Guardian reports.
That was a best-case scenario to come out of the meeting that just ended, according to a note from Wolfango Piccoli at Teneo Intelligence written Friday. He added:
http://blogs.barrons.com/emergingmarketsdaily/2016/05/09/greece-debt-relief-talks-fuel-stock-grek-etf-rally/?mod=BOL_hp_blog_stw
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM