Day Topic: Greece Roller Coaster
European financial markets’ fluctuations have been strongly correlated to the outcome of the deal making process between Greece and its creditors. Yesterday, Wednesday 27 May, market makers bet on a positive final resolution over the Greek debt affair, pushing upward all major indexes. FTSEMIB reported a 2.29% daily gain, settling at 23861 and approaching the resistance point in area 24000. Today, very few minutes ago, Dow Jones Newswires reported a news where IMF authorities expressed their expectations of a Greek debt repayment. We have to remember that the deadline of the repayment is on 5 June. Today, indexes are showing some weakness due to the cloudy future of the Greece’s solvency.
Worldwide, between yesterday and today, global markets followed the bullish momentum of Europe and reported gains. Nikkei reached new multi-year highs, closing at 20473, +0.17%. NASDAQ performed a long green candle yesterday reaching multiyear high at 5106, +1.47%.