Moody’s positive assessment of BoG plan to reduce NPEs boosts Athens bourse

30 November 2018
112 Views

A positive assessment by Moody’s of a recently announced plan by the Bank of Greece (BoG) to reduce an Olympus-sized “mountain” of “bad debt” plaguing Greek systemic banks’ balance sheets provided a fillip on Thursday for trading at the Athens Stock Exchange (ATHEX).

The beleaguered banking index, in particular, was leading the market at the beginning of trading, starting off up 3.5 percent overall.

Moody’s this week referred to the BoG plan for a reduction of NPEs as “credit positive”. Gains nevertheless were tempered by the pending downgrade of three out of the four systemic banks on the MSCI index.

You may be interested

“Wish Tree” on Greek island becomes Tourist attraction
GREECE
shares471 views
GREECE
shares471 views

“Wish Tree” on Greek island becomes Tourist attraction

Panos - Mar 19, 2019

The “wish tree” on the picturesque Antipaxos island in the Ionian Sea has become a tourist attraction, as every year…

Professional fisherman dies off western Greece after casting his net
GREECE
shares31 views
GREECE
shares31 views

Professional fisherman dies off western Greece after casting his net

Panos - Mar 19, 2019

An odd but tragic accident was reported over the weekend with a 67-year-old fisherman dying under still undetermined circumstances moments…

High school teacher arrested after reportedly having sex with student
WORLD
shares35 views
WORLD
shares35 views

High school teacher arrested after reportedly having sex with student

Panos - Mar 19, 2019

A former Georgia high school teacher was detained after she was accused of having a sexual relationship with one of…

Leave a Comment

Your email address will not be published.