Kathimerini English - - Focus -


Moody’s yes­ter­day an­nounced it had up­graded Bank of Cyprus’s credit rat­ing from Ca to Caa3, re­flect­ing the lender’s strength­ened cap­i­tal cush­ions, ac­cord­ing to a state­ment by the rat­ing agency. The Cypriot bank’s out­look re­mains sta­ble, Moody’s added.

Turk bourse shares.

to save the euro and re­it­er­ated the sin­gle cur­rency was ir­re­versible. Ital­ian 10-year bond yields fell 5 ba­sis points to 2.29 per­cent, while equiv­a­lent Span­ish yields fell 3 bps to 2.21 per­cent. Ir­ish and Por­tuguese yields also dipped, while Greek yields were a touch higher, with the bench­mark 10year bond yield clos­ing at 8.07 per­cent, up from 8.02 per­cent on Fri­day. it seeks to en­tice in­vest­ment to its fi­nan­cial cap­i­tal. The gov­ern­ment au­tho­rized the ini­tial pub­lic of­fer­ing of as much as 42.75 per­cent of Borsa Istanbul in a decision re­leased on Fri­day. The plan comes after the ex­change brought the coun­try’s eq­uity, debt, de­riv­a­tives, and pre­cious metal mar­kets un­der one roof fol­low­ing a 2012 re­struc­tur­ing. Nas­daq OMX Group Inc is part-owner of Borsa Istanbul. While Turkey has the largest eq­uity mar­ket in emerg­ing Europe after Rus­sia, it may have more room to grow than some of its peers. The bourse’s stock mar­ket value was 29 per­cent of gross do­mes­tic prod­uct last year com­pared with 40 per­cent for Rus­sia and 120 per­cent for South Africa, ac­cord­ing to data com­piled by Bloomberg. The Borsa Istanbul 100 In­dex has ad­vanced 20 per­cent in 2014, com­pared with a 1.6 per­cent de­cline in the MSCI Emerg­ing Mar­kets In­dex.

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