Spanish banks get some funding, now for the Greek elections…..
A short local week but it has started with a relief rally. European finance ministers finally acted and agreed on funding to capitalise the Spanish banks ($100 billion). Spain has been the focus over the past few days as markets looked at the detail (ranking) then we wait for the outcome of the Greek elections on Sunday 17 June (18 June Aust.). It is up to the Greek voters who are fatigued but understand the implications of their vote.
Indices:
The All Ordinaries Index was flat decreasing -19 points (or -0.4%) since closing last Friday to 11:35 am Today.
The rest of the world as measured by the MSCI index is up +2 points (or +0.2%) in A$ from closing last Friday to end of trade Thursday.
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