Greek interest two years sink 366 points and purse triggers more … – Jornal de Negócios – Portugal

Greek interest two years sink 366 points and purse shoots more than 7% expecting an agreement

Investors are showing confidence around an agreement between Greece and creditors. Proof of this is the sharp fall in interest rates and the significant rise in the stock market.

The confidence around an agreement between Athens and lenders is increasing, which is lead to a pressure relief on Greece. The interest rate on the bonds to two years is sliding 366.5 basis points to 25.209%. Within four years the fall is 194.8 points to 17.043% and the 10 years the descent is 116.6 points to 11.502%.

The main Greek stock index, the FTase, which aggregates the 25 largest listed Greece, is skyrocketing 7.33% to 223.45 points, driven by most measures, but especially for banking, which has been one of the most damaged sector. Alpha Bank, Eurobank and National Bank of Greece are rising about 15%, ie at a time when other European markets follow with gains of more than 2%.

These sharp declines in interest rates and the rise in stock so anticipate successful negotiations between Athens and creditors. It is, at least, this expectation of investors on a day that multiply the meetings already scheduled.

In the morning, the Greek prime minister, Alexis Tsipras, meets with President of the European Commission Jean-Claude Juncker, President of the Eurogroup Jeroen Dijsselbloem, the general director of the International Monetary Fund (IMF), Christine Lagarde, and the president of the European Central Bank (ECB), Mario Draghi.

Even before lunch the finance ministers of the eurozone, the Eurgrupo, meet to prepare the European summit, which starts at the end of the day.