GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 838.08 posting losses of 0.76%, in a turnover of €49.05mn.
S&P’s Greece’s credit grade by 6 notches to B- from Selective Default, giving Greece a stable outlook, meaning that it will not consider ratings changes in coming months. The upgrade reflects its view that the other EU countries using the euro are determined to keep Greece inside the currency union.
Greece sold €1.3bn of three-month T-bills yesterday, with the yield of 4.11%, down from 4.2% a month ago. The sale’s bid-cover ratio was 1.73, up from 1.66 at the previous auction (PDMA).
- Cypriot Banks:Cyprus said that it would not default on its payments and had secured necessary financing to meet its immediate requirements. In other news, BoC said that it has again cancelled coupon payments for some of its convertible capital securities in the first half of next year.
FTSE 20 December future:
- Support levels: 286-278-272. Resistance levels: 300-308-316.
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