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30 Dec 2014
Greek and European markets lower on Greece election news – Investec
FXStreet (Barcelona) - The Investec Team shares that Greek 3yr yields are up 11% and Athens Index is down 10% on news of elections in the country after the parliament failed for the third time to elect the President.
Key Quotes
“Yesterday morning has seen Greek Prime Minister Samaras fail to gain enough votes to support his nomination for President, Stavros Dimas in the third round of voting. At the final tally there were 168 votes in support of the nomination, 12 short of the 180 votes required to pass and unchanged from the second vote on the 23 Dec.”
“Under the constitution Parliament will now be dissolved and early elections held, most likely by the end of January or early in February, although no date has yet been set. In terms of the opinion polls the opposition party Syriza still lead, although their lead has narrowed in recent weeks. Two polls over the weekend put their lead at between 2.5% and 3.3%, down from around 5% a few weeks ago.”
“Greek and European markets are lower on the early election news, with Greece’s ASE down 10% and yields sharply higher, Greek 3yr now trades above 11%, although the euro is relatively unmoved by the news.”
“With Greece dominating all of the wafer thin economic headlines barring any surprises today that theme is likely to continue.”
Key Quotes
“Yesterday morning has seen Greek Prime Minister Samaras fail to gain enough votes to support his nomination for President, Stavros Dimas in the third round of voting. At the final tally there were 168 votes in support of the nomination, 12 short of the 180 votes required to pass and unchanged from the second vote on the 23 Dec.”
“Under the constitution Parliament will now be dissolved and early elections held, most likely by the end of January or early in February, although no date has yet been set. In terms of the opinion polls the opposition party Syriza still lead, although their lead has narrowed in recent weeks. Two polls over the weekend put their lead at between 2.5% and 3.3%, down from around 5% a few weeks ago.”
“Greek and European markets are lower on the early election news, with Greece’s ASE down 10% and yields sharply higher, Greek 3yr now trades above 11%, although the euro is relatively unmoved by the news.”
“With Greece dominating all of the wafer thin economic headlines barring any surprises today that theme is likely to continue.”