European Central Bank

Investment grade remains elusive

The recent health crisis is dampening hopes of a credit rating upgrade for Greece. According to Capital Economics economist Melanie Debono, "it is now highly unlikely that any government will be upgraded by the credit rating agencies in the near future, given that the world is on the verge of a deep recession. Greece is not immune from this."

ATHEX: Rebound continues on bourse

The Greek stock market continued to reap the benefits from the European Central Bank's move to include Greece in its emergency bond-buying program for a second day on Friday, but unlike on Thursday, banks were participating in force. Oil companies led the way, while mid- and small-caps appeared more reserved. There was a marked improvement in turnover.

ATHEX: Strong rise in stock market led by PPC

The decision by the European Central Bank to include Greece in an emergency bond-buying program gave Greek securities a much-needed boost on Thursday, with sovereign bond yields tumbling and stocks jumping at Athinon Avenue. Public Power Corporation closed almost at its limit-up, while banks struggled to keep up with the other blue chips.

Greece to ground all flights in bid to contain Covid-19

Prime Minister Kyriakos Mitsotakis is expected to announce the suspension of all passenger flights to and from Greece on Thursday in a televised address expected later in the afternoon, as the government ramps up measures to limit the spread of the novel coronavirus.

According to information obtained by Kathimerini, the suspension will take effect on Sunday night (March 22).

Greece's borrowing costs fall after inclusion in ECB's package

Greek borrowing costs fell sharply on Thursday following the European Central Bank's (ECB) decision to include Greek government bonds in an emergency assets purchases program.

The ECB triggered new bond purchases worth 750 billion euros ($816.90 billion) at an emergency meeting late on Wednesday to stop a pandemic-induced financial rout from shredding the euro zone's economy.