IMF chief and macro data are on investors’ minds this week
Comments on Greece’s fiscal problems from two senior International Monetary Fund (IMF) and European Commission officials expected in Athens within the next few days may help set the market tune. Investors will be looking to IMF chief Dominique Strauss-Kahn, who is scheduled to speak in Greek Parliament tomorrow, for news on whether Greece will be given more time to repay its 110-billion-euro EU-IMF loan. EU Commissioner for Economic and Financial Affairs Olli Rehn is also Athens-bound and is scheduled to address Greek law makers on Thursday. With the third quarter reporting season over, investors are likely to focus on macroeconomic data and their possible impact on profit figures. The Hellenic Statistical Authority (ELSTAT) is expected to unveil November consumer inflation data on Wednesday and September jobless figures on Thursday. It will also publish final data on third quarter gross domestic product on Thursday. Initial figures released last month showed that economic output from July to September contracted at an annual pace of 4.5 percent. On Friday, the Athens Exchange’s general index closed at 1,486.50 points, up 0.84 percent.
