Financial markets: ECB draws investors of Greece from – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          The hope maker: ECB President Mario Draghi
     

 
                                              

 
 
     
     
     
         
         
                                                             

The continued loose monetary policy of the European Central Bank (ECB) has distracted investors on the financial markets on Wednesday by concerns about Greece.

                         
         
         
                                                             
                                 

According to Niall Delventhal the DailyFX Forex traders investors have again scooped courage after the monetary policy assessment of the ECB. “Market participants were distracted by the seemingly intractable and debilitating crisis in Greece.”

                         
         
         
                                                             

ECB President Mario Draghi reiterated to continue the launched in March securities purchases to stimulate the economy and inflation to fall 2016 in its entirety. For economic development in the euro area as a whole, he also remained optimistic – even if the beginning of the year was bumpy. ECB left its key interest rate to its record low of 0.05 to percent.

                         
         
         
                                                             

Draghi also said that the markets would have to adjust to greater volatility. Bond prices fell thereafter, especially German government bonds. The yield on ten-year German government bonds rose again by almost 17 basis points to 0.88 percent now. Also bonds from the peripheral euro fell after an initial rally back.

                         
         
         
                                                                                                                                                                                                  

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“If the market is convinced that the ECB will ultimately be successful and to inflation expectations and growth revive, then the bond yields are likely to continue to rise, “said Laurence Mutkin, Global Head of G10 interest strategy at BNP Paribas in London.

                         
         
         
                                                             

According to Owen Callan, bond strategist at Cantor Fitzgerald, the current volatility will continue: “The ECB does not seem to be too concerned about the recent volatility and thus gives the green light that the volatility continues, without the ECB respond, “he said.

                         
         
         
                                                             

More optimism for Greece

Ten-year Greek bonds were against demand among speculators. Their yield rose by 62 basis points to 10.337 percent after Draghi had said the ECB am firmly of the whereabouts of Greece in the euro area from. “There is a strong will and a strong determination, that we find a good result at the end. By this, the ECB and it also work the European Commission and the IMF operates. “

                         
         
         
                                                             

attention also found the words “social fairness” that is used in this context Draghi and which were interpreted as a willingness to further concessions.

                         
         
         
                                                             

The euro also put back vigorously, increasing by almost one and a half cents to $ 1.1275.

                         
         
         
                                                             

buying mood in the stock market

On the stock markets of the stock index rose to 0.80 percent to 11,420 points. The 100 values ​​the market significantly wider imaging FAZ index rose by 0.7 percent to 2303 points.

                         
         
         
                                                             

Siemens rose 1.2 percent. The Group had received the largest single order in company history ashore during visit to Germany from Egypt’s president Abdel Fattah al-Sisi. A total of three gas power plants and up to 12 wind farms worth about eight billion euros will be built.

                         
         
         
                                                             

real estate stocks were offside: The shares of Deutsche Annington fell by 5.2 percent after days and were losers. They were followed by the papers of German residential with minus 3.9 per cent and of LEG and TAG Immobilien each with slightly more than 2 percent decline. So they followed the trend of the entire European real estate sector, which fell as the weakest of the 19 sub-indices of the Stoxx Europe 600 more than 2 percent. Because of cheap central bank money and the zero interest rate policy property values ​​had been recently asked sharply.

                         
         
         
                                                             

Salzgitter gained 5.8 percent to 34.745 euros. The papers of the steel group benefited from a strong increase in target price of Kepler Cheuvreux by 15 to 45 euros. The experts of the French investment bank see Europe steel companies facing a turning point for the better because of the review of dumping charges against Chinese and Russian competitors from the EU.

                                 

 
  

 
 
 
                       

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ECB directs investors from Greece from

The European Central Bank on Wednesday reassured investors and hope for an agreement with Greece spread. Only the prices of government bonds suffer.

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