Market information Monday August 3rd 2015

After a five week closure the Greece stock index decreased by 23%. Piraeus Bank and the National bank of Greece decreased with 30%. There are still restrictions are in place. These restrictions entail that local traders are only able to buy stocks, bonds, derivatives and warrants with new money such as funds transferred from abroad, cash only deposits or from existing investment account balances held at Greek brokerages.

The Swiss economy suffers under the appreciated value of the Swiss franc. In the first and second quarter of this year the economy decreased with 0.2%. Compared to the euro the value of the Swiss franc increased by 15% since the beginning of this year. Due to the appreciation of the Swiss franc it is expected that 30.000 people will lose their job in the coming 6 to 9 months. Nevertheless, economists expect a growth of 0.1% in the third quarter of this year.

The British bank HSBC released in a statement on Monday that they agreed to sell its Brazilian unit to Banco Bradesco for USD 5.2 billion. HSBC had a profit before tax of USD 13.6 billion over the first 6 months of this year; an increase of 10% compared to the same period a year earlier. The bank’s revenue increased from USD 31.1 billion to USD 32.9 billion.

The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 1 bp to 1.00%.

In the attachment below, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: update@zanders.eu.