Business Recorder
Mar 29, 2025
PRINT EDITION ►
BR MARKETS ►
Dollar to PKR ►
Home
Latest
BR Research
Markets
Ad
☰
✕
Home
Latest
BR Research
Markets
Business & Finance
World
Editorials
Opinion
MENA
Technology
Life & Style
Sports
Perspectives
Pakistan
Supplements
Print
Close the sidebar
Greek stocks soar, European stocks mark time
Imaduddin
24 Feb, 2015
Facebook
Twitter
Whatsapp
Copyright AFP (Agence France-Presse), 2015
Facebook
Twitter
Whatsapp
Read Comments
![](https://i.brecorder.com/images/2015/02/greek-stock4-feb.jpg">LONDON: Greek stocks surged Tuesday after Athens delivered to Brussels a list of proposed reforms that won it an extension of its financial lifeline, but Europe's main markets failed to gain traction. </P><P>Investors were watching for cues from US Federal Reserve Chair Janet Yellen when she appears Tuesday and Wednesday for twice-yearly Capitol Hill hearings to provide the central bank's assessment of the US economy and when it will be ready to raise interest rates from near zero.</P><P>Greece's benchmark ATHEX index of leading companies rallied 8.85 percent to 929.73 points in afternoon deals after eurozone finance ministers backed a four-month extension to the country's bailout.</P><P>But Frankfurt's DAX 30 dipped 0.02 percent to 11,128.43 points and the CAC 40 in Paris slipped 0.19 percent compared with Monday's close to 4,852.98.</P><P>London's FTSE 100 added 0.27 percent to 6,931.00 points.</P><P>In foreign exchange activity, the euro dropped to $1.1320 from $1.1337 late in New York.</P><P>At the last moment Greece submitted reform proposals that include a raft of measures aimed at tackling corruption, improving efficiencies in tax collection, the social security system and government bureaucracy.</P><P>While the eurozone's finance ministers found that sufficient to approve extending Greece's 240 billion euro ($270 billion) bailout for four months, parliaments in several countries must also give their okay in the coming days.</P><P>Greece's current bailout programme expires on Saturday. If there is no extension, Greece's government risks running out of money and potentially triggering a run on its banks or even having to leave the eurozone.</P><P>But the International Monetary Fund, which has also contributed to Greece's bailout, criticised the Greek reform plan, saying it lacks clear signs that Athens will follow through on its promises.</P><P>In a number of areas, )
