Economy of Greece

By Prokopis Hatzinikolaou

Sellers had the final word during the last session of the bourse’s worst week of the year, as signs in the morning that the benchmark could recover some of the ground lost in previous days came to nothing, with the majority of stocks suffering fresh losses, albeit small in most cases.

Bulgaria has the lowest consumption per capita among the 28 member states of the European Union.

This was revealed by the latest data from Eurostat, which was published on Thursday.

 Bourse benchmark has lost 20 percent in the last three days

Greek securities sank afresh on Thursday as panic selling in stocks and bonds led the bourse benchmark’s total losses over the last three sessions to 20 percent, with 13 billion euros wiped off the value of Greek shares, while 10-year sovereign bond yields soared over 9 percent.

Greece's jobless rate fell to 25.7 percent in September from a upwardly revised 26 percent rate in August as the country's six-year recession eases, Greek statistics agency ELSTAT said on Thursday.

September's reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment hit 28 percent.

Black Tuesday’s sell-off continued during early trade on Wednesday at the Athens bourse, with the benchmark down more than 4 percent at one point. However, most stocks managed to contain their losses, and gains by some of the previous day’s biggest losers, including MIG and PPC, limited the damage to a drop of just 1 percent at the end of the session.

 Benchmark suffers biggest drop in 27 years as foreign investors rush to sell on fears of snap general election

Traders hardly batted an eyelid at the government’s positive result in the parliamentary vote for the budget, keeping most of their attention firmly fixed on developments on the troika front. Accordingly the Greek bourse saw little action, with the benchmark refusing to give any ground and remaining afloat for one more day on Monday.

In the third quarter of 2014, Bulgaria registered 1.5% year-on-year GDP growth, according to Eurostat.

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York Global Finance Offshore BDH (Luxembourg) S.a.r.I. announced the acquisition of another 5,133,174 shares in blue chip Terna Energy on Thursday in a non-bourse transaction amounting to a 4.70 percent stake in the Athens-listed company.

The share purchase has seen York Global’s stake in the Greek energy firm climb to 7.70 percent,corresponding to 8,412,606 shares.