Athens Stock Exchange is on the verge of joining the MSCI Developed Markets, marking a…
Tag: financial markets
The Athens Stock Exchange closed with moderate gains in the latest trading session, as the…
The Cyprus Stock Exchange (XAK) reported strong interest from the Greek investment community during its…
Thousands rally in Istanbul following Mayor Ekrem İmamoğlu’s arrest on March 19, defying a ban on gatherings and calling the charges a political ploy. As Turkey bans short-selling stocks to calm markets, the unrest signals deeper instability.
George Frazis is not what you’d call a conventional banker. While most financial executives blend into boardrooms with practiced anonymity, Frazis has spent decades standing out.
Greek stocks surged by 13.65% in 2024, marking the fourth consecutive year of growth for the Athens Stock Exchange. Led by a 21.14% jump in banking stocks, the general index reached 1,469.67 points. Market activity also saw robust increases, with daily transaction values up 26% and annual turnover exceeding €103 billion.
Greece has surprised Europe with its remarkable economic recovery, transforming from a debt-stricken nation to a model of fiscal stability within a decade. Once synonymous with financial turmoil, Greece is now outpacing Germany in economic growth and projecting a 3% budget surplus by year-end. While investor confidence soars, rising rents and inflation continue to strain ordinary citizens, highlighting the uneven impact of the country’s comeback.
Greece plans to raise €11 billion from bond markets in 2025 to address rising financing needs, nearly doubling its net borrowing from 2024. The increased activity follows recent upgrades from rating agencies and reflects growing investor confidence in the country’s fiscal stability. The funds will support the state budget deficit, Recovery Fund loans, and public debt servicing, as outlined in the Budget Introductory Report presented by Finance Minister Kostis Hatzidakis.
Greece has raised €9.1 billion from financial markets in 2024, nearing 91% of its annual loan program target. With a borrowing plan of €7 billion to €10 billion, the country is taking advantage of favorable market conditions. The International Monetary Fund projects Greece’s public debt will decline to 138% of GDP by 2029.
The Bank of Cyprus has received shareholder approval to seek a listing on the Athens Stock Exchange, with a decision expected by September 17. The bank plans to delist from the London Stock Exchange on September 19, aiming to boost its visibility in a more complementary market.
The European Central Bank has reduced interest rates to 3.5% following a unanimous decision, amid declining inflation and economic slowdown concerns in the Eurozone. This move aligns with other major central banks’ actions to address fading inflation pressures and stimulate economic activity.
Bitcoin, the world’s largest cryptocurrency by market capitalization, has plummeted over 10% in a single day, pressured by a global stock market downturn that has reverberated through the cryptocurrency sector. Dropping below $50,000 for the first time since February, Bitcoin reached a low of $48,126 at 08:41 GMT on Monday, though it has since seen a modest recovery.
Greece successfully raised 600 million euros in a 52-week Treasury bill auction, achieving a yield…
