The Daily Morning Stock Market Brief
World Financial News,
Investing Reports and
the World Stock Exchanges
Updated Daily Between 09:00 and 10:00 AM
Athens, Greece - Standard Time Zone: UTC/GMT +2
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Wednesday, 10
The Greek market closed slightly lower (-0.11%) yesterday, led by Bank of Cyprus (-3.09%) and Eurobank (-1.41%), whereas NBG advanced by 1.16%.
Trading volume reached €185m.
European markets finished little changed, as lower than expected corporate results in the aerospace sector were offset by gains from food and beverage stocks.
US stocks ended higher.
Today, European markets are seen opening flattish.
In the domestic market, we expect a consolidative session.
Tuesday, 9
The Greek market closed 0.28% higher yesterday, led by CCH (+2.71%), OPAP (+1.74%) and PPC (+2.43%), whereas Alpha Bank and Titan Cement were down 1.77% and 4.32% respectively.
Trading volume stood at €153m.
European markets ended mixed, affected by losses in the healthcare sector.
US bourses also finished mixed, helped by M&A activity in the insurance sector.
European markets are seen opening flattish today.
We expect a similar opening in the domestic market.
Monday, 8
The Greek market closed 1.66% higher on Friday, led by the banking sector (+3.10%) and OPAP (+2.23%), whereas PPC (-1.59%) underperformed.
Trading volume reached €159m.
International markets advanced, on hopes over the outlook of the US economy following better than expected employment data.
Today, European markets are seen extending their gains, with investors keeping an eye on the US Housing Starts release.
We expect a positive start in the domestic market, fuelled by statements that the EU has a plan to help Greece, if needed.
Friday, 5
The FTSEurofirst 300 index of top European shares closed 0.1 percent higher at 1,036.44 points in choppy trade on Thursday, having traded as high as 1,040.50 and as low as 1,028.77 points.
U.S. stocks rose on Thursday as better-than-expected monthly sales from retailers and a drop in the number of Americans filing claims for jobless benefits pointed to stabilisation in the economy, ahead of the non-farm payrolls data due at 1330 GMT on Friday.
Asian shares surged after the encouraging retail and jobless claims data from the United States suggested Asia's biggest export market was stabilising. Japan's Nikkei average provisionally closed up 2.2 percent, also buoyed by a report that the Bank of Japan was considering monetary easing steps.
The non-farm payrolls report is expected to show a loss of 50,000 jobs in February, compared to 20,000 job cuts in January, a Reuters poll shows.
European shares are set to open higher, on track to rise for the sixth consecutive session, tracking gains in Asia and Wall Street overnight, with investors awaiting a key jobs report from the United States for fresh clues on the health of the economy.
Thursday, 4
The Greek market closed 0.36% lower yesterday, led by Alpha Bank (-3.66%), NBG (-1.28%) and OTE (-1.53%), while CCH was up 3.08%.
Trading volume reached €192m.
European markets finished higher, while US bourses ended mixed.
European markets are seen opening lower in today’s session, with investors focusing on ECB and BoE rate decisions (expected to keep rates unchanged) and US initial jobless claims report.
Today the equity market is expected to track the reaction in the bond market, as investors will digest the impact from the, generous indeed, measures announced yesterday.
Wednesday, 3
The Greek market ended 2.65% higher yesterday, with NBG (+3.47%), Alpha Bank (+4.99) and OTE (+3.27%) outperforming.
Trading volume stood at €204m.
European markets also finished higher, led by gains in the auto and airline sectors.
US bourses advanced amid M&A activity.
European markets are set to open lower today.
Domestically, we expect nervous trading in today’s session in anticipation of the issuance of the 10-year bond.
Tuesday, 2
The Greek market ended 2.94% higher yesterday, driven by banks (+4.01%), OTE (+3.50%) and PPC (+4.71%).
Trading volume stood at 198m Euros.
European markets closed higher, led by gains from mining companies.
US bourses also advanced on M&A activity and better than expected macro data.
Today, European markets are seen opening flattish.
We expect a similar start in the domestic market.
Monday, 1
The Greek market closed 2.17% higher on Friday, led by banks (+4.98%), OPAP (+1.48%) and Titan Cement (+2.97%), whereas Folli Follie lost 4.76%.
Trading volume stood at 180m Euros.
European markets also advanced, driven by gains from banks and mining stocks.
US bourses ended higher on better than expected macro data.
Today, European markets are seen opening higher, tracking gains in US and Asia.
We expect a positive start in the domestic market, fuelled by press reports claiming EU's support to Greece.
Friday, 26
The ASE General Index finished 2.82% lower yesterday, led by the banking sector (-4.92%), OPAP (-3.56%) and OTE (-3.48%), while CCH closed 1.41% higher.
Trading volume stood at 176m Euros.
International markets also ended lower on weak a US jobless claims report.
European markets are seen opening higher today with investors keeping an eye on the US GDP release.
Domestically, we expect a volatile session.
Thursday, 25
A tepid early rally in Asian shares faltered on Thursday and the dollar rose on Bernanke's global growth concerns. Japan's Nikkei fell 1 percent.
Wall Street, however, gained on Wednesday after Bernanke reassured lawmakers interest rates would remain low.
At 1330 GMT, investors will eye U.S. Durable Goods orders for January, with economists in a Reuters survey expecting a rise in orders of 1.5 percent versus a 1 percent rise in December.
European shares are expected to fall, tracking weaker Asian markets after comments by Fed Chairman Ben Bernanke on Wednesday raised some concerns about global growth.
Investor sentiment may also be knocked after Standard and Poor's said late Wednesday it might downgrade Greece's BBB+ rating by one or two notches within a month, citing downside risks to growth that could hinder the country's deficit-cutting plan.
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