Nikkei Rises Today
The Japanese stock market recorded profits today thanks to the report of the central bank of the country (BOJ), which showed that the big companies are intending to increase their capital spending with the fastest pace of the last decade.
However the concerns about the developments in Greece, as the repayment period of the IMF expired and the country is now without a program, limited gains.
Nikkei rose by 0.5% at 20,329.32 points, while the broader index TOPIX rose by 0.4% at 1,636.41 points and the JPX-Nikkei 400 rose by 0.3% and closed at 14,764.55 points.
Euromarkets Jumped With The focus On Greece
The European indices recorded a mini rally due to new publications that mention the acceptance of the terms of an agreement by the Greek Prime Minister, Alexis Tsipras.
Specifically, at 09:25 GMT, the British FTSE 100 index was up by 1.20% at 6,599 points, the German DAX recorded an increase of 1.80% at 11,142 points and the French CAC 40 moved up by 2% at 4,886 points.
Stoxx 600 index recorded profits of 1.51% at 387.08 points.
On the board, Airbus Group (PARIS:AIR) increased by 2%, as it qualified in a contest in China to supply 75 A330 aircrafts for the sum of $18 billion.
Also, Tullow Oil (LONDON:TLW) recorded profits of 4.2%, as the management has revised the course of production with better estimations from the sources of Ghana.
The focus is now on the new teleconference of the Eurogroup, where they will discuss the status of negotiations with Greece.
Schaeuble: There Is No Basis For A Serious Negotiation
There is no basis for serious negotiations with Greece at this moment, the German Finance Minister Wolfgang Schaeuble said today, arguing that the letter of the Greek government lacks clarity.
The Greeks have to clarify what they want, Mr. Schaeuble said and noted that there was no agreement at yesterday's Eurogroup meeting, but the finance ministers said that the door for talks remains open.
As the German Finance Minister said, on the expiry of the second program a new situation will be created and any new program should be a part of the ESM.
"It's a difficult situation for Greece," Wolfgang Schaeuble said and predicted that the new talks will be under more difficult conditions. He gave the responsibility to "the incomprehensible behavior of Greece".
The German Finance Minister also mentioned that Greece has already received a haircut on its debt, and the country's interest rates are now lower than those of Germany, in relative terms.
I always obeyed our agreed rules. If everyone did this, Greece would not be today in such a desperate situation, Mr. Schaeuble continued on a hard tone.
Referring to the referendum, he said that the Greeks cannot accept or reject the agreement because there is no longer and never existed.
He also argued that it is pointless for continuing discussions before the referendum and he declined to make any prediction for the future, saying that everything is possible, and said that he feels sorry for the Greek people.
Euro Makes Limited Losses
Euro has a waiting attitude against the dollar at this time as it rebounded slightly from the losses of the previous days, which led it below the levels of $1.11.
In particular, at 10:10 GMT, euro moved with small losses of 0.12% at $1.1127, while earlier it had reached $1.1097.
The climate change was due to news reports which mentioned an acceptance of the terms of an agreement by the Greek prime minister, Alexis Tsipras.