AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.30 Increased By ▲ 0.19 (0.15%)
BOP 6.35 Decreased By ▼ -0.25 (-3.79%)
CNERGY 4.11 Increased By ▲ 0.08 (1.99%)
DCL 8.70 Increased By ▲ 0.25 (2.96%)
DFML 42.30 Increased By ▲ 1.05 (2.55%)
DGKC 88.15 Increased By ▲ 1.15 (1.32%)
FCCL 33.63 Increased By ▲ 0.28 (0.84%)
FFBL 66.00 Increased By ▲ 0.10 (0.15%)
FFL 10.72 Increased By ▲ 0.18 (1.71%)
HUBC 112.99 Increased By ▲ 2.29 (2.07%)
HUMNL 15.81 Increased By ▲ 0.58 (3.81%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.94 Increased By ▲ 0.11 (1.4%)
MLCF 42.10 Increased By ▲ 0.20 (0.48%)
NBP 60.95 Increased By ▲ 0.45 (0.74%)
OGDC 189.85 Increased By ▲ 7.05 (3.86%)
PAEL 25.55 Increased By ▲ 0.19 (0.75%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 149.25 Increased By ▲ 1.44 (0.97%)
PRL 25.15 Increased By ▲ 0.59 (2.4%)
PTC 16.40 Increased By ▲ 0.16 (0.99%)
SEARL 70.64 Increased By ▲ 0.14 (0.2%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.14 Decreased By ▼ -0.16 (-0.44%)
TPLP 8.10 Increased By ▲ 0.25 (3.18%)
TREET 16.36 Increased By ▲ 1.06 (6.93%)
TRG 51.50 Decreased By ▼ -0.20 (-0.39%)
UNITY 27.31 Decreased By ▼ -0.04 (-0.15%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,929 Increased By 87.1 (0.88%)
BR30 30,514 Increased By 477.5 (1.59%)
KSE100 93,203 Increased By 682.1 (0.74%)
KSE30 28,961 Increased By 174.8 (0.61%)

European corporate CDS indexes were wider on Friday, guided by weakness in sovereign issues on concern over Greece's financial woes. By 1110 GMT, the investment-grade Markit iTraxx Europe index was at 72.5 basis points, according to data from Markit, 2 basis points wider versus late Thursday, according to data from BGC Partners.
The Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 406 basis points, 3 basis points wider. "Sov CDS and the SovX is the driver," said a London-based corporate CDS index trader. The issue of sovereign risk, as highlighted by concern over the state of Greece's public debt, meant the iTraxx SovX index of western European sovereign CDS traded wider than the Main index for the first time on Thursday.
"A key driver for this was the significant underperformance of peripheral sovereigns, which are over-represented in SovX compared with Main," said Barclays Capital, in a note. Early Friday, Greek sovereign debt was priced at 339,300 euros per 10 million euros of exposure, just off Thursday's record high of 345,000 euros, according to five-year credit default swap prices from CMA DataVision.
Looking ahead, corporate CDS traders were expected to focus later on the release of US economic data, including the latest inflation figures, as well as earnings from JP Morgan Chase & Co, which kicks off quarterly results from US banks.

Copyright Reuters, 2010

Comments

Comments are closed.