Bond yields climb 11 bp

Kathimerini English - - Front Page -

LONDON (Reuters) – Greek bond yields rose yes­ter­day after a se­nior Euro­pean Union of­fi­cial said Athens was “highly un­likely” to end its bailout pro­gram with­out some new form of as­sis­tance that will re­quire it to meet tar­gets. Yields on Greek 10-year bonds rose 11 ba­sis points to 8.22 per­cent, rev­ers­ing an ear­lier fall to un­der­per­form other eu­ro­zone bonds. “The mar­ket is scared that what­ever hap­pens Greece is prob­a­bly go­ing to be in trou­ble,” said Gian­luca Ziglio, ex­ec­u­tive di­rec­tor of fixed in­come re­search at Sun­rise Bro­kers. “If they go it alone, keep­ing the IMF pro­gram and they lose the EU aid as planned they ba­si­cally have no safety net ... If they de­cide to ac­cept a pre-

Air­port traf­fic.

Athens In­ter­na­tional Air­port (AIA) re­ported yes­ter­day a 28 per­cent rise in pas­sen­ger traf­fic last month, com­pared with Oc­to­ber 2013, reach­ing 1.43 mil­lion. Do­mes­tic flights saw a rise of 34.8 per­cent rise and in­ter­na­tional ones growth of 24.6 per­cent. Of par­tic­u­lar in­ter­est is the 39 per­cent hike in the num­ber of pas­sen­gers fly­ing to Athens as their fi­nal des­ti­na­tion rather than a tran­sit point, il­lus­trat­ing the in­creas­ing pop­u­lar­ity of the Greek cap­i­tal as a des­ti­na­tion beyond the peak sea­son. In the first 10 months of 2014 AIA re­ported 20.3 per­cent growth in traf­fic to reach 13.1 mil­lion pas­sen­gers, or over 2.2 mil­lion

BoC-UK.

Trou­bled Bank of Cyprus, the largest lender on the re­ces­sion-hit is­land, said yes­ter­day it has sold its UK loan port­fo­lio for 361 mil­lion euros as part of its re­struc­tur­ing. The loan port­fo­lio – largely com­posed of res­i­den­tial and com­mer­cial real es­tate-backed fa­cil­i­ties – was sold to Mars Cap­i­tal Fi­nance and Ca­mael Mort­gages, said BoC. “Sale of the loan port­fo­lio is in line with the Group’s re­struc­tur­ing plan and is part of the Group’s strat­egy of delever­ag­ing through the dis­posal of non­core op­er­a­tions... and strength­en­ing its cap­i­tal and liq­uid­ity po­si­tion,” it said in a state­ment. The port­fo­lio is not linked to the group’s wholly-owned sub­sidiary, Bank of Cyprus UK, but part of a wider UK port­fo­lio trans­ferred after BoC ab­sorbed Laiki Bank.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.