The Daily Morning
Stock Market Brief,
Real Time Indexes,
Currencies and Commodities,
World Financial News,
Investing Reports and
the World Stock Exchanges

Updated daily between 09:30 and 10:30 Athens, Greece
Standard Time Zone: UTC/GMT +2 

     

The Dates of the Athens, Greece,
Stock Exchange Holidays:

2012 | 2011 | 2010 | 2009 | 2008 | 2007

Tuesday, 7

European shares are set to open slightly lower on Tuesday as poor results by bellwethers UBS and ArcelorMittal rekindle worries about the outlook for corporate profits as the euro zone debt crisis threathens to push the region back into recession.

Financial spreadbetters expect Britain's FTSE 100 to open down 2-6 points, or as much as 0.1 percent lower, Germany's DAX to open down 6 to up 4 points, and France's CAC-40 to open down 2-5 points, or as much as 0.2 percent lower.

UBS warned of a poor first quarter due to the uncertainty surrounding the euro zone, as it posted a sharp drop in fourth-quarter profit that missed analyst expectations.

Monday, 6

European shares are expected to open slightly lower, retreating from the previous session's six-month high, with the lingering battle in Greece to avoid a chaotic debt default prompting investors to trade cautiously.

Greece's coalition parties must tell the European Union by Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.

Despite the expectation-busting (U.S.) non-farm payrolls on Friday, the optimism has faded quickly as the storm clouds surrounding Greece continue to gather.

The failure between Greek Prime Minister Lucas Papademos and fellow unity government leaders to agree on the Troika's austerity measures has left traders feeling hot under the collar. The stakes are clear; either accept the austerity measures or default.

Financial spreadbetters predict Britain's FTSE 100 to open flat, Germany's DAX to fall 12 to 13 points, or as much as 0.2 percent, and France's CAC-40 to drop 15 to 17 points, or as much as 0.5 percent.

The pan-European FTSEurofirst 300 index of top shares closed 1.6 percent higher at 1,076.70 points on Friday, posting its biggest weekly rise since late December, after forecast-beating U.S. jobs data raised hopes about an economic recovery that could boost company earnings.

Mining shares could come under pressure as key metals prices fell on Greece concerns. However, Xstrata could gain further after the Financial Times reported that commodities trader Glencore International was set to offer a bigger-than-expected premium to seal its proposed $88 billion merger with the global miner.

Friday, 3

European shares are expected to open flat as investors awaited U.S. jobs data for fresh signs that the world's largest economy was recovering, although miners were likely to get some support from stronger metals prices.

Financial spreadbetters expected Britain's FTSE 100 andFrance's CAC-40 to open flat, while Germany's DAX was expected to open 1 to 7 points higher, or as much as 0.1 percent.

A string of upbeat data from the United States, Europe's largest export market, helped fuel gains on the FTSEurofirst 300 index of top European shares, which hit a fresh six-month closing high on Thursday.

Nonfarm payrolls report, expected to show the improving labor market trend remained intact in January, will be a key test of the rally.

Analysts expected the number of people employed in economic activities excluding agriculture in the United States to have increased by 150,000 units last month, after a 200,000 increase in December. U.S. unemployment is seen stable at 8.5 percent.

Thursday, 2

European shares are expected to open mixed on Thursday after hitting a six-month high in the previous session as investors looked for fresh evidence of improving economic conditions before committing more money to equities.

U.S. productivity and labour cost data for the forth quarter of 2011 will also be released at 1330 GMT. Productivity is forecast to rise 0.8 percent versus a 2.3 percent rise the final Q3 report. Unit labor costs are expected to rise 0.8 percent compared with a 2.5 percent decrease in the final Q3 report.

The Federal Reserve chairman Ben Bernanke and the Chicago Federal Reserve Bank President Charles Evans are due to hold a joint interview at the Chicago Fed at 1400 GMT.

Wednesday, 1

Financial spreadbetters expect Europe's main stock indexes to inch higher on Wednesday, adding to the previous session's gains, following better-than-expected Chinese manufacturing data.

The official PMI rose to 50.5 in January from 50.3 in December, beating market expectations of 49.5 as new orders rose to a three-month high. A level of 50 demarcates expansion from contraction.

A similar HSBC survey showed the sector contracting the least in three months, further backing the view that a downturn in manufacturing may be bottoming out as the government adopts modest measures to support growth.

European stocks gained ground on Tuesday on renewed hopes for a Greek debt deal and after euro zone leaders agreed to a German-led deal on stricter budget controls, although gains were capped by weaker than expected U.S. economic data.

Tuesday, 31

European shares are expected to rebound on Tuesday, taking cue from a late recovery from lows on Wall Street and helped by hopes Greece is moving closer to avoiding a default that would have hefty consequences on Europe's financial system.

U.S. indexes pared early losses in thin trade late on Monday, with money managers happy to buy on intraday declines on hopes the recent rally, fuelled by upbeat economic data and accommodative policies by central banks across the globe, can be sustained.

Striking a confident note, Greek Prime Minister Lucas Papademos said negotiators had made "significant progress" in talks to strike a restructuring deal for Greek government debt, with the aim of having a definitive agreement by the end of this week.

His comments came as European leaders agreed on Monday on a permanent euro zone rescue fund and most endorsed a stricter budget discipline.

Capping sentiment in Europe, however, were concerns that Portugal might need a second rescue as Lisbon's borrowing costs soared in the face of record low business and consumer confidence.

Of interest to the banking sector, some of the euro zone's biggest lenders have told the Financial Times that they are preparing to tap the European Central Bank's emergency funding scheme for up to twice as much as the ECB supplied in its December auction.

Financial spreadbetters expected Britain's FTSE 100 to open 20 to 24 points higher, or as much as 0.4 percent, Germany's DAX to gain 27 to 39 points, or as much as 0.6 percent, and France's CAC-40 to rise 15 to 22 points, or as much as 0.7 percent. 

Monday, 30

Financial spreadbetters expect Europe's main stock indexes to dip as investors await to see the details of Greece's debt swap deal and the outcome of yet another European summit before chasing stocks higher.

Spreadbetters expect London's FTSE to open around 13 points lower, or down 0.2 percent, Frankfurt's DAX to open 23 points lower, or down 0.4 percent, and Paris' CAC 40 to open 18 points lower, or down 0.5 percent.

On Saturday, Greece and its private creditors said they were negotiating the final details of a debt swap and expected to have a deal ready this week, a crucial step for debt-stricken Greece to seal a new bailout and avoid a chaotic default.

However, investors remained wary about Greece after a European source told Reuters Germany was pushing for Athens to relinquish control over its budget policy to European institutions as part of discussions over the second rescue package.

The euro zone's blue chip Euro STOXX 50 index has surged nearly 12 percent over the past six weeks, boosted by rising hopes the worst of the euro zone crisis could be behind. At a summit on Monday, EU leaders will sign off on a permanent rescue fund for the euro zone, and are expected to agree on a balanced budget rule in national legislation.

The summit, which will be the 17th in two years, will focus on creating jobs and growth, with leaders looking to shift the narrative away from politically unpopular budget austerity.

Monthly Special Reports
Weekly Investing Articles
Real Time Forex Quotes
The Stock Market Book

DISCLAIMER: This material is based on public information believed to be reliable and is presented in good faith. We cannot guarantee in any way its correctness, accuracy, or completeness. All information, opinions, estimates, forecasts and valuations contained herein, are subject to change without notice. This material is published for information purposes only and does not represent an offer to sell or a solicitation to buy an asset, security or financial instrument. Changes in interest rates or foreign exchange rates may affect the value and price of, or the income from securities or investment positions discussed herein. The assets, securities and financial instruments discussed herein, may not be suitable for all investors, depending on individual needs, objectives and financial conditions. Investors therefore should seek professional advice and exercise their independent judgment and make their own decisions. We accept no liability whatsoever for any direct or indirect loss arising from any use of this material. We, including our officers, personnel and related associates may have or had, for our own account, investment positions related to the material discussed herein, before, during or after the above material reaches you.