Thursday, 9 July 2015

European exchange markets expect deal between Greece and creditors

The penultimate session of the week on stock exchanges in Europe ended with spikes. Markets expect Greece to submit its request for a third rescue program until midnight CET today, and this is seen as a solution to the crisis in Greece.
However, the Prime Minister of Greece Alexis Tsipras was under strong pressure from the extreme left wing unit in SYRIZA. The Energy Minister Panagiotis Lafazanis strongly opposed a third rescue program and last hours can be critical.
The deadline for enactment of a new program for Greece in on Sunday. Discussions will start at 16 o'clock CET.
Further incentive was the recovery of stock markets in China. For this reason the leading indices in European markets reported strong gains at the end of the day. All sectors that are part of the pan-European Stoxx Europe 600 are on green territory. The index rose by 2.23% to a level of 381.21 points today.
Among the leading companies that are part of the index is the Finnish pharmaceutical company Orion Oyj, whose shares rose nearly 11% to a price of 35.30 euros per share.

The German DAX 30 rose 2.32 percent to a level of 10 996.41 points, the French CAC 40 growth today is within 2.55% to a value of 4 757.22 points.
Athens Stock Exchange remains closed until next week, along with the country's banks.
The mining sector was one of the generators of growth of the leading index of the London Stock Exchange - FTSE 100 today. Shares of Rio Tinto rose 2% to a price of 2525 pence, while trade in shares of BHP Billiton rose 1.6% to a price of 1206 pence.

The value of the FTSE 100 rose by 1.4% to 6 581.63 points.

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