Ion-Marc Valahu est interviewé par Bloomberg – 25.06.2015
“We keep going back and forth depending on each press release on Greece bailout talks,” said Ion-Marc Valahu, co-founder and fund manager at Clairinvest in Geneva. “We’re hostages to this situation. It’s not going anywhere, we can’t focus on anything else. A resolution, and not a temporary one – that’s what investors want and we are far away from that.”
(BN) Europe Stocks Are Little Changed as Greece Flirts With Defa
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Europe Stocks Are Little Changed as Greece Flirts With Default
2015-06-25 08:25:55.130 GMT
By Namitha Jagadeesh and Roxana Zega
(Bloomberg) — European stocks were little changed, paring
earlier declines, as investors awaited progress in Greek talks
before an impending payment deadline.
The Stoxx Europe 600 Index declined 0.1 percent to 396.77
at 9:21 a.m. in London, trimming a losses of as much as 0.8
percent. Greek Prime Minister Alexis Tsipras and the heads of
the three creditor institutions are recovening today after
ending another round of fruitless talks in the early hours.
“We keep going back and forth depending on each press
release on Greece bailout talks,” said Ion-Marc Valahu, co-
founder and fund manager at Clairinvest in Geneva. “We’re
hostages to this situation. It’s not going anywhere, we can’t
focus on anything else. A resolution, and not a temporary one –
that’s what investors want and we are far away from that.”
The country that accounts for less than 2 percent of the
euro-area economy is dominating investor sentiment to a degree
not seen since the 2011 debt-crisis days. Shares tracked by the
Euro Stoxx 50 Index and the ASE are moving in unison by the most
since July 2011, correlation data compiled by Bloomberg show.
Greece’s need for a deal is growing more urgent as it faces
both an expiry of its current bailout package and a loan
repayment deadline on June 30. The Stoxx 600 snapped a four-day
winning streak yesterday after Greece and its creditors rejected
each other’s proposals.
The ASE Index climbed 1.7 percent, reversing a drop of as
much as 2.2 percent. Moody’s Corp. said Greece missing a payment
to the International Monetary Fund may not prompt a downgrade.
Among shares active on corporate news, Hennes & Mauritz AB
fell 2.2 percent after its quarterly gross margin and net income
missed analysts’ estimates. Electrolux AB lost 1.7 percent after
Dagens Industri reported the company’s chief executive officer
plans to step down. The appliances maker said he has not
resigned.
Petrofac Ltd. climbed 4.5 percent after Nomura Holdings
Inc. recommended buying the shares, citing potential for
shareholder cash returns. The company is heading for its best
week since 2010 after saying it sees profit heavily weighted
toward the second half of the year.
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