GREECE
Macro/Political:
- Tomorrow, Greece will auction 13 Weeks T-Bills with maturity January 29th, 2027. The amount to be auctioned is EUR 400mn.
Source: PDMA - S&P affirmed Greece’s sovereign credit rating at BBB, with a stable outlook. According to the Agency, Greece is on track to post another primary budget surplus, which S&P estimates will reach 3.8% of GDP in 2026, thanks to tax compliance reforms and falling unemployment, despite increased spending on public investment. Furthermore, while Greece’s external imbalances remain elevated, the agency considers its membership in the euro area and compliance with EU fiscal rules to offer protection against the risk of a balance of payments shock. Additionally, economic growth has remained resilient despite successive shocks, and prospects remain solid thanks to a still-high investment pipeline. The stable outlook balances Greece’s solid economic and fiscal performance against high levels of external and government debt. Greece’s rating could come under downside pressure if the country’s budgetary performance were to deteriorate markedly, while it could come under upside pressure if Greece’s external imbalances were to improve materially and sustainably. This could happen if the economy’s reliance on imports were to decline or if the country’s external debt were to decrease materially.
Source: S&P
CYPRUS
Macro/Political:
- Earlier today, President Christodoulides will meet with ENI’s COO, Guido Brusco. The President is expected to attend the meeting at 12 pm, followed by a ceremony for the signing of the Engineering, Procurement, Construction and Installation contract for the development infrastructure of the Cronos gas field. According to a recent WSJ article citing Reuters, ENI is expected to sign contracts worth up to USD 1.8bn today for the construction of drilling and pipeline infrastructure as part of its natural gas development project off the coast of Cyprus. More specifically, Reuters reported that the contracts, valued at USD 1.3-1.8bn, concern the construction of subsea infrastructure to facilitate the extraction, processing and transportation of natural gas to Egypt through subsea pipelines. Nicosia confirmed the report, with relevant sources adding that the total project cost is expected to fall within this range.
Source: Stock Watch
Markets:
- Bank of Cyprus will announce 9M26 financial results, on Thursday 05/11/2026.
Source: ATHEX
