Moody’s positive assessment of BoG plan to reduce NPEs boosts Athens bourse
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
New Covid-19 curfew maps – Who can move, why and when (alert maps)makis - Oct 23, 2020
Deputy Minister of Civil Protection Nikos Hardalias presented the plan for workers and those eligible to freely move by exception…
Mitsotakis: Masks everywhere & curfew at night in the “orange” & “red” areas of the countrymakis - Oct 22, 2020
The obligatory use of a mask everywhere was announced by the Prime Minister Kyriakos Mitsotakis as the first measure to…
Coronavirus Greece: Explosive rise with 865 new cases, 331 in Attica & 181 in Thessalonikimakis - Oct 21, 2020
The Greek authorities announced today 865 new cases of coronavirus in the country, of which 82 are associated with known…