Russia’s latest “game” with natural gas is causing serious turmoil in the Greek stock market, which is currently moving with significant losses. In particular, the general index is falling by 1.55% to 924.35 points, with a turnover of more than 15 million euros.
At a time when Greece is in the market for the reissue of its seven-year bond issued in 2020, the government will have to deal with Russia’s threat to cut off gas supplies to those countries that refuse to pay in rubles. Greece has a deadline of less than 30 days, according to information from ot.gr, in order for DEPA Emporia, the largest importer of Russian physics in the country, to pay the planned installment for the receipt of quantities of fuel from Gazprom.
And all this while the Greek State is in the markets, a day when the yields of Greek securities have increased. In fact, after yesterday’s announcement of the exit from ODDIH, the Greek ten-year bond increased to 3.11%. Greek borrowing costs had started to rise since October 2021. The ten-year bond had risen to 1.338%, from the level of 0.847 in September 2021. After the Russian invasion of Ukraine the yield is close to 2.5%.
At the level of securities, the focus of the pressures is Piraeus Bank, Viohalco, Alpha Bank, Coca Cola, IPTO, Lambda, PPC, Mytilineos, Terna Energy, Jumbo, GEK Terna and Aegean, as they record losses that exceed 2%, while National Bank, OTE and Hellenic Petroleum are trying to control pressure.
