It’s a tough game for stocks and bonds

The Athens stock market was defined today by clumsy sales due to a statement from a seller of Pimco that said Greece, Ireland and Spain should remove themselves from the Euro zone.

The heavy climate worsens with speculations that there will be a downfall of status from Fitch for Greece and its banks. A situation like that would be absolutely catastrophic for banks. Pressures today fro stocks and bonds were fierce and the greek spread of 10yr bonds went up to 895 units (a 9-unit rise).

The index closed at 1.449,79 units with a fall of 3,22%. National Bank closed at 6,48 euros, falling by 4,71%. Also Agrotiki Bank fell9,64%, Eurobank had a 7,02% loss and Alpha Bank went down by 5,84 %.

Furthermore, the Bank of Cyprus is continuing its downfall, and so is MIG at 6,18%.

At the same time, in Europe the feeling is festive since profits have reached 0.5% in London and 1% in Frankfurt and Paris.