UPDATE 1-Greece plans two bond issues by year-end to raise about 4 bln euros-sources Reuters 6 hrs ago
By Lefteris Papadimas
ATHENS, April 29 (Reuters) - Greece plans at least two more bond issues this year to raise about 4 billion euros, bringing borrowing to the upper end of projections as it looks to consolidate a presence on debt markets and cope with increased pandemic costs, two government officials told Reuters on Thursday.
The Finance Ministry said in December it planned to raise 8-12 billion euros on the bond markets this year to cover maturing debt and help pay for state support for businesses and workers hit by COVID-19 lockdowns.
So far Europe has trailed behind other regions, both economically and in its vaccination program roll-out. Nonetheless, recent forward looking indicators and an acceleration on the number of vaccine doses administered, act as encouraging signals for growth within the region.
Economically, the Eurozone services sector returned to expansionary mode, for the first time since last August. The Services Purchasing Manager Index (PMI) reading at 50.3, represents growth across the hardest hit sectors and is a positive signal for the recovery in Europe. Albeit lagging behind the Manufacturing PMI, at a record 24-year high of 63.4, the services sector surprised to the upside. The Eurozone services activity, which was expected to remain in contraction mode, recorded modest growth despite that COVID-19 containment measures were tightened. The flash estimate reflects optimism for months ahead, particularly in France, as companies prepare for higher activity over the summer.
Europe: indicators point towards further growth | Calamatta Cuschieri
Markets summary
by Calamatta Cuschieri
So far Europe has trailed behind other regions, both economically and in its vaccination program roll-out. Nonetheless, recent forward looking indicators and an acceleration on the number of vaccine doses administered, act as encouraging signals for growth within the region.
Economically, the Eurozone services sector returned to expansionary mode, for the first time since last August. The Services Purchasing Manager Index (PMI) reading at 50.3, represents growth across the hardest hit sectors and is a positive signal for the recovery in Europe. Albeit lagging behind the Manufacturing PMI, at a record 24-year high of 63.4, the services sector surprised to the upside. The Eurozone services activity, which was expected to remain in contraction mode, recorded modest growth despite that covid-19 containment measures were tightened. The flash estimate reflects optimism for mont
European Central Bank (
ECB) is preparing to exit its emergency measures in June, when the economic fallout from the crisis unleashed by the pandemic could be starting to fade.
Any talk now of phasing out the
ECB s Pandemic Emergency Purchase Programme (PEPP) would be premature, said
ECB President Lagarde on a press conference, stating that the
ECB governing council did not even discuss the programme s future at this week s meeting.
But after an economic downfall in the first quarter as a third wave of infections engulfed the
eurozone, Lagarde expects economic growth to resume during the current quarter.
According to European Union s statistics office Eurostat, annual inflation in the
3/3/2021 2:08:37 PM GMT | By Eren Sengezer
Jens Weidmann, European Central Bank (ECB) Governing Council member and Bundesbank President, said on Wednesday that the ECB s Pandemic Emergency Purchase Programme (PEPP) is flexible.
Additional takeaways The size of the yield moves is not particularly worrisome. ECB looking at conditions beyond government bond yields.
Market reaction
The shared currency remains on the back foot following these comments and continues to weaken against its major rivals. As of writing, the EUR/USD pair was down 0.32% on the day at 1.2050. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.