The Possibility of a Grexit Hasn’t Gone Away, Sainsbury’s Announces First Full-Year Loss in a Decade
May 6, 2015 8:31 am
Is a Grexit still on the cards? It’s pay-up time for Greece, with an IMF loan of €200 million due as well as a further €750 million repayment deadline next week. Recent indications suggest that Greek Finance Minister Yannis Varoufakis has been somewhat sidelined recently in negotiations with the ECB, but it’s unclear whether this will influence matters at all. The ECB is meeting today to discuss the possibility of more Emergency Liquidity Assistance for Greek banks, but hopes of a long term resolution to the ongoing cycle of debt and repayment seem to be fading fast. The German DAX 30 Index is currently up by 0.62%, whilst the Athens Stock Exchange is down by 0.39%.
In the UK, supermarket chain Sainsbury’s has just announced its first full-year loss in a decade. The company has continued to feel the pressure from both Lidl and Aldi; the low-cost chains have been snapping at the heels of Britain’s traditional supermarkets for a while now. Sainsbury’s stock is currently down by around 2.7%. Meanwhile, two more of Tesco’s non-executive directors are set to step down next month, leaving just two directors out of eleven who have been in their positions for longer than twelve months. Tesco’s share price is currently down by around 0.4%.
Is a Grexit still on the cards? It’s pay-up time for Greece, with an IMF loan of €200 million due as well as a further €750 million repayment deadline next week. Recent indications suggest that Greek Finance Minister Yannis Varoufakis has been somewhat sidelined recently in negotiations with the ECB, but it’s unclear whether this will influence matters at all. The ECB is meeting today to discuss the possibility of more Emergency Liquidity Assistance for Greek banks, but hopes of a long term resolution to the ongoing cycle of debt and repayment seem to be fading fast. The German DAX 30 Index is currently up by 0.62%, whilst the Athens Stock Exchange is down by 0.39%.
In the UK, supermarket chain Sainsbury’s has just announced its first full-year loss in a decade. The company has continued to feel the pressure from both Lidl and Aldi; the low-cost chains have been snapping at the heels of Britain’s traditional supermarkets for a while now. Sainsbury’s stock is currently down by around 2.7%. Meanwhile, two more of Tesco’s non-executive directors are set to step down next month, leaving just two directors out of eleven who have been in their positions for longer than twelve months. Tesco’s share price is currently down by around 0.4%.
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