MARKETS-STOCKS/EUROPE Greece crisis makes investors cautious

Record ID: 151807

  • Title: MARKETS-STOCKS/EUROPE Greece crisis makes investors cautious
  • Date: 19th June 2015
  • Summary: FRANKFURT, GERMANY (JUNE 19, 2015) (REUTERS) TOPSHOT TRADING FLOOR TRADERS ON MONITORS ELECTRONIC BOARD SHOWING DAX GRAPH TRADER ELECTRONIC BOARD SHOWING DAX GRAPH VARIOUS OF TRADERS ELECTRONIC BOARD SHOWING DAX GRAPH ELECTRONIC BOARD SHOWING CHANGES IN DAX TRADERS (SOUNDBITE) (German) CAPITAL MARKETS ANALYST AT BAADER BANK, ROBERT HALVER, SAYING: "The DAX is happy, happy
  • Embargoed: 4th July 2015 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: General
  • Reuters ID: LVAAC3EK7J9YUJYE2T1YZ5EL8RH3
  • Aspect Ratio: 16:9
  • Story Text: European shares rose in early trading on Friday (June 19), buoyed by gains overnight in Wall Street and at steelmaker Thyssenkrupp, although persistent concerns over Greece kept a lid on the overall progress.
    Germany's DAX progressed by 0.2 percent to 11,127 points. The gains were again limited by the looming bankruptcy of Greece, after talks in Luxembourg on Thursday (June 18) of the eurozone finance ministers failed to make any breakthrough on a cash-for-reforms deal.
    The European Central Bank's (ECB) governing council will hold a special conference call on Friday - the second in three days - to consider adding more emergency liquidity for Greek banks facing a quickening drain on their cash, two persons close to the situation said. The ECB said it was not clear whether Greek banks would be open on Monday, officials said.
    Investors remained cautious given the deadlock between Greece and its creditors.
    Capital market analyst Robert Halver from Baader Bank said the hope for a decision of the Greek crisis alone made the DAX "happy". If there is a decision then the markets can deal with it, he said. "But this deadlocked situation, this back and fro, that has made us nervous. But every trader here knows: even is the Greeks exit (the eurozone) - we can take it."
    Halver said that Greece should have the chance for an exit from the eurozone, in order to get its economy on track. "And I am being very clear about this: a Greek exit will be the best for the eurozone and the financial markets."
    Eurozone leaders will hold an emergency summit on Monday (June 22) to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as the Greek debt talks drag on.
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