EU summit holds key for investors
News expected from the EU summit this week on a package aimed at helping Greece get through its debt crisis may help calm jittery investors after the local bourse shed more than 3 percent in its last five sessions. At the two-day meeting starting Thursday in Brussels, heads of government will discuss the bloc’s response to Greece’s financial crisis and a possible plan to help the country meet borrowing requirements. The Athens bourse resumed a downward trend last week, after recording gains over a 15-day period, with bank shares incurring the steepest losses. Comments from ratings agency Fitch on Friday that Greece’s largest banks won’t have any problems raising funds this year amid slower loan growth may ease investor concerns in the sector. On Friday, the Athens bourse’s benchmark general index added 1.47 percent to 2049.36 points. More earnings are expected from blue chips in coming days, with OPAP scheduled to unveil figures today and Mytilineos tomorrow.
