Vladimír Urbánek (Kurzy.cz)
Markets  |  October 15, 2012 16:10:56

Hughes: This week will be crucial for the EU, Greece and Spain in the middle of the action

Greece should submit their bosses austerity measures before EU summit, Spain this week could apply for financial assistance

James Hughes, Chief Market Analystv Alpariprohlásil: "It seems as though corporate profits are no longer this week ahead of Thursday's and Friday's EU summit for investors significant.

This week could be pivotal for the euro area. It is expected that before Thursday's and Friday's EU summit, EU heads of present Greece austerity measures amounting to € 13.5 billion. If the proposed EU approves austerity measures, Greece will release in November next package of financial aid.

The approval of aid to Greece should be accompanied by applications of Spain for financial aid. Since September, when the European Central Bank (ECB) announced the launch of direct monetary transactions, the Spanish Prime Minister Mariano navládu Rajoyvyvíjen strong pressure to apply for financial aid. Rajoy probably waiting for a request to challenge Germany.

These steps are considered as key measures to stabilize the euro area markets. During the last months prevailed in the markets about Spain and Greece uncertainty, which in turn caused the stagnation of the markets.

Disclosure of corporate earnings doposudmělo little impact on markets. Recent announcement of the reduction in expected profit companies to some extent negatively affected in the evaluation of companies. This is definitely better than the expected results ignored completely.This suggests that investors do not attach great importance to corporate profits and deal with different problems. "

Note: This text contains personal thoughts and opinions and should not be adopted or misunderstood as investment advice.

Lenka Sobotková |Account Specialist | AMI Communications

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Hughes: Tento týden bude pro EU stěžejní, Řecko a Španělsko v centru dění

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