11 мая 2010

SELL in MAY and …?

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In April 2010, the UX index surged 8.4% to 2551.5 points as of April 30, 2010. The end of May Day celebration was marked by a massive decline amid fears of the Greece fiscal crisis expansion to other European countries. During the first three trading days of May UX lost all of the April’s growth and dropped to the level of mid-March, while the situation in Greece and Portugal remained unresolved. Greece simultaneously solves two problems: the budget deficit and popular discontent by fiscal policy tightening. The next test for Greece will occur on May 19, when the country has to redeem 8.5 billion euro, however by that time it should already receive financial aid from the EU and the IMF.

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