MarketWatch features Stephen Pope & Spotlight Ideas
Monday October 22nd 2012
http://www.marketwatch.com/story/europe-stocks-inch-lower-with-earnings-in-focus-2012-10-22"...
Greek stocks made the biggest gains Monday, with the Athens General Index /quotes/zigman/1384511 GR:GD +2.68% jumping 2.7% to 894.01, led by a 7.2% rally for OPAP SA /quotes/zigman/280356 GR:OPAP +7.22% and a 5.7% advance for National Bank of Greece SA /quotes/zigman/7503280/quotes/nls/nbg NBG +4.93% /quotes/zigman/168661 GR:ETE +5.22% .
The Greek government is currently negotiating a new package of austerity measures with international lenders. “Optimism is high that Greece will receive the next tranche of its aid package and that is keeping up the momentum in the banking sector,” said Stephen Pope, managing partner at Spotlight Ideas.
In emailed comments, Pope also noted talk of a potential deal that would allow the Greek government to use money from the European Stability Mechanism bailout fund and buy back its own bonds for 25% of their value, helping reduce a mountain of debt. German magazine Der Spiegel said the German finance ministry is studying the idea, added Pope.
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