|Bid||0.00 x 315800|
|Ask||3.17 x 137300|
|Day's Range||3.15 - 3.23|
|52 Week Range||0.17 - 3.23|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The European Central Bank has accelerated the timetable for stress tests for Greece’s four largest banks and will announce the results in May before the country’s bailout expires.
Three of Greece's largest lenders plan to sell up to 5.5 billion euros ($6.5 billion) in bad loans by early next year, sources said, as the country's central bank chief called on the creaking banking sector to act faster to tackle its bad-debt problem. Greek banks are saddled with 103 billion euros in bad loans, equal to almost 60 percent of the economy, after years of financial crisis and crippling recession. The European Central Bank wants that reduced by 38 billion euros by the end of 2019.
Big money managers have started buying cheap Greek stocks from banks to lotteries as clouds over talks between Athens and its international creditors gradually clear, anticipating big returns. A deal in May when Greece agreed to more austerity measures raised hopes of possible debt relief for a country that has endured economic hardship for years, resulting in the longest winning streak for the Athens bourse in more than two decades. Greek stocks have had at least one false dawn since the country's first EU/IMF bailout in 2010 - the market rose in 2012-14 only to fall back - and on Monday, the creditors failed to reach a deal after eight hours of talks, dashing hopes of an immediate breakthrough.
Greek stocks are on track for 13 straight days of gains, their longest winning streak in at least 20 years, as hopes of a potential deal with lenders, a banking system clean-up and a broad euro zone recovery bring the beaten-down market back on to investors' radars. Over the latest run, Greece's main benchmark has not seen a down day since April 21, is up 19 percent over that period and the country's stock market is one of the best performers in Europe this year. Trading on the Athens bourse was suspended in June 2015 as part of capital controls imposed to stem a debilitating outflow of euros that threatened to collapse Greece's banks and hurl the indebted country out of the euro zone.