Published today 10:00
Share prices on the major European stock markets fell slightly when trading opened on Monday.
But the case was moderately; instead it was the euro that got Strengthen and fell to its lowest level against the dollar in eleven years.
Share prices on the major European stock markets fell slightly when trading opened on Monday.
But the case was moderately; instead it was the euro that got Strengthen and fell to its lowest level against the dollar in eleven years.
The Left SYRIZA surprisingly large election victory did not lead to sharp price developments on the stock exchanges. London Stock Exchange’s leading FTSE index fell by 0.45 percent after one hour of trading.
During the same period fell Frankfurt Stock Exchange DAX index fell by 0.1 per cent and the Paris Stock Exchange CAC 40 by 0.2 percent.
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Even Stockholm Stock Exchange fell in initial trading, but then turned it. After a few hours of trading had the leading OMX 30 index rose 0.3 percent.
The turnaround came on the major stock exchanges. Dax index had at lunchtime risen by 0.5 percent, and the CAC 40 by 0.2 percent. The FTSE index, however, was 0.4 percent during Friday’s close.
Instead of share trading on the exchanges so that market reactions in currency trading. SYRIZA victory means that the risk of a so-called Grexit, that Greece leaves the euro, has increased, beating hard against the euro in Monday trading on the Asian markets. The euro reached its lowest level against the dollar in eleven years; $ 1.11 for one euro. Later in the morning, took the currency back part of the case and was listed at lunchtime a price of $ 1.13 for one euro.
An exchange which, however, reacted strongly to the election results were the Athens Stock Exchange. Even if the downloaded into a part of the initial case, it became the leading index at lunchtime 1.9 percent lower than at Friday’s close.
SYRIZA partiledare- and likely new prime minister of Greece-Alexis Tsipras has said he wants to get through a severe impairment of the Greek sovereign debt. It meets the requirement adamantly resisted by the European Central Bank (ECB) and the International Monetary Fund (IMF). Easing in the form of extended maturity of loans or waiver of interest for a number of years is likely possible for SYRIZA to achieve, but not a direct impairment.
In an interview with the German business daily Handelsblatt said board member Benoit Coeure that the ECB will agree to a write-down related to the Greek government bonds by the Bank.
– It is legally impossible, says Coeure told the newspaper.
Can not the new government in Athens agree with the Troika, the European Commission, the ECB and the IMF, the consequence may be to Greece suspends payments and forced to leave the euro.
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