BONDS

70% of Stoxx600 firms see profit hikes

MADRID | The Corner | Reporting season in Europe is beginning. Over half the Stoxx600 companies that already showed results surpassed expectations. Profits grew for 70% of this businesses and the average rise was of 9%.  European markets’ upward trend being less mature than American’s may point at a EuroStoxx higher appreciation potential. It gains importance as performance results keep looking up and prices context allows EZ companies to rise EBITDA margin from current 15.2% to prior years levels (above 16%).


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After landmark return in April, Greece prepares to tap bond markets again

ATHENS | By MacroPolis | After tapping markets in April for the first time in four years, Greece is considering another bond transaction, which could take place as early as next week, according to reports. The troika delegation is scheduled to return to Athens on July 9 and the country’s goal is for the operation to take place as early as possible to avoid any negative repercussions during the inspection by Greece’s lenders affecting investor interest or the yield. 


Market chatter: bonds await ECB’s move

MADRID | By Julia Pastor | European sovereign bonds markets have put some champagne bottles on the fridge for next neek in the case the ECB decides to inject some stimulus on the euro zone at last. Without setting a precedent, president Mario Draghi and Bundesbank’s head Jens Weidmann seem to bring their positions over the mechanism closer. This change of direction led Spanish 10-years bonds to 2005’s minimum yields of 3.27% and was behind the successful issue of Italian public Treasury, which sold €2.5 bn at also very low prices. Just Greece’s bonds are trending downwards.