The ECB kept the stock markets in Athens and Europe negative
THE ECB he did not deny them and at noon on Thursday 27/10 they maintained their losses. Most, the base rate of the euro stands at 2%, while that of deposit acceptance by the ECB amounts to 1.5%. And this while before July, when the domino of the basic increases started interest rate of the euro was zero, while that of deposit acceptance was negative, at -0.5%.
Essentially, for one more meeting the “hard line” was passed within the ECB, while, based on what the relevant text of the decision states, it is not excluded that the increases will continue in the following meetings as well. While the ECB she remains committed to her goal of bringing him back inflation at the 2% level, it seems to be prioritizing its taming, putting the risk of recession for the Eurozone in second place and the consequences of increased interest rates for borrowers.
At the same time, this week’s corporate announcements about the financial results of the third quarter had an important role in the downward course of the shares. Already, the swiss bank UBS fall fall 24% in the profits of the third quarter, and h HSBC record dive 42% in pre-tax earnings on Tuesday. While today, the British oil Shell presented reduced revenues for the same period and a net loss of 4.034 billion. Swiss francs or 4.09 billion dollars offers for the 3rd quarter today the Credit Suisse.
In this climate, at 17:15 the pan-European Stoxx 600 falls by 0.35% to 408.78 units and o General Price Index on the Athens Stock Exchange it closed with a fall of 0.23%, but without losing 860 units, with a turnover of 40.91 million euros.
It is reminded that today is the last session of the week, as the Athens Stock Exchange will remain closed on Friday 28/10, due to the national anniversary.
Losses for the euro as well
in foreign exchange marketthe euro today fell against the dollar by 0.19% to $1.0067.
The euro was at 146.7330 yen, at 0.8678 against sterling and at 0.9943 against swiss franc. At the same time, the dollar fell by 0.42% against the yen and settled at 145.7490 yen.
While the sterling It was down 0.20% against the dollar at $1.1598.
It is noted that on the “front” of Britain is its new finance minister Britain Jeremy Hunt yesterday Wednesday 26/10 the postponement of the presentation of the government budget, by almost two weeks, for November 17th.