The stock market is recently performing well by marking little lifts in different equities, most especially the FTSE 100. As a matter of fact, it has been recently reported that it pushed higher levels as many investors start to regain their confidence to Greece when it comes to completing the bond swap, which is expected to save the life of the economy of the said country.
Aside from that, there are also major banks as well as pension funds that contributed to the current lifts in the stock market. This is considering that the said banks and funds represent around 40% of the outstanding debt of Greece. This is because they finally three their weights into the back of the bond swap of Athens, which is offered to different private creditors. As a result, the country now has 130 billion euro to make its economy steer away from being in financial default.
On the specifics, the top 300 companies in Europe contributed 0.5 per cent to the early trading that made the lift for the general economy. Aside from the FTSE, the Arm Holugh index of London, the company that provides chips for Apple, marked the highest lift of them all with more than 3 per cent. The lift was attributed to the rating upgrade of the company by none other than Morgan Stanley. Further, Morrison in the retail industry was also up by at least 2 per cent after reporting a profit rise while the miner also marked strong performance with the Vedanta and Kazakhmys gaining a lift of 2.8 and 2.2 per cent, respectively.
The aviation industry also performed well with the Meggitt, a manufacturer of aircraft parts, goes up by 2.3 per cent. The Antofagasta also showed very positive performance with 2.5 per cent lift.
The banking sector also did not let themselves to be left behind. Lloyds has edge up by around 0.5 percent as well as RBS. With the Greek deal coming out, the Barclays also joined the sector and nudged up by 0.90 per cent while Aviva, an insurer based in United Kingdom, was actually up by at least 1.7 per cent after a report came out that its profit increases and they are already recovering from the impact of the Eurozone crisis.
With the foregoing, the lifts in FTSE 100 and other instruments and equities in the stock market, can we expect the commencement of Eurozone’s recovery?