Morgan Stanley

Bailed-out Cyprus will be putting out market feelers next week about a possible new bond issue, choosing Barclays, HSBC, Morgan Stanley and SG CIB to organize meetings with European investors.

The overall uncertainty regarding how Greek banks will emerge from October’s stress tests to be conducted on all EU banks has fueled a summer of distress and fluctuation for local banking stocks.

Greece’s banks are on sturdy capital ground, and if any capital injections are needed, the sum should not exceed 3.5 billion euros, Morgan Stanley notes in a new report.

Morgan Stanley analysts also stated that recent share price corrections in the local banking sector have created investment opportunities.

Greek equities posted gains for a third consecutive day on Wednesday, in line with stocks elsewhere in Europe which were helped by a Morgan Stanley report forecasting benefits for firms from the projected slide in the euro. The market was also bolstered by news of a near end to the Greek recession and the disbursement of a 1-billion-euro bailout tranche.

Rishi Goyal, the deputy chief of the Advanced Economies Unit in the International Monetary Fund’s European Department, is to replace Poul Thomsen as the organization’s head representative in the troika.

Thomsen, deputy director of the IMF’s European department, will replace Reza Moghadam, director of the IMF’s European department since 2011, for an interim period.

By Rachel Evans & Andrea Wong

The international appetite for euro- zone financial assets that underpinned the local currency the past two years is beginning to erode.

After 14 sessions, the benchmark of the Greek bourse finally returned above the 1,200-point mark on a wave of optimism on Friday, while turnover hit a level unseen in the last two weeks.

A US private equity fund, a Russian millionaire and a Bulgarian entrepreneur are showing their interest in Hypo Alpe Adria bank's subsidiaries, an Austrian daily argues.

Hypo Alpe Adria is to sell its branches across Southeast Europe, namely in Serbia, Slovenia, Montenegro, Croatia and Bosnia-Herzegovina, the countries where it is present.

 Finance Ministry will likely issue a three-year bond, hoping for an interest rate that will not exceed 3 pct

By Sotiris Nikas

By Yiannis Papadoyiannis

A large window of opportunity has opened for the faster privatization of the country’s systemic lenders and the state’s immediate recovery of a significant share of the funds placed in sustainable banks thanks to the exceptionally favorable investment mood regarding Greece on the grounds of its imminent economic rebound.