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Monday, June 29, 2015

Thomas Cook Falls 8%, Company Expects 'Zero Impact' on Greek Crisis

Sharemasterindia.com: Shares of leisure travel firm Thomas Cook India and Cox & Kings, which send tourists to Europe fell as much as 8 per cent and 12 per cent respectively on Monday as chances of Greece exiting the euro zone increased as Greece is likely to default on its debt payment.

The possible exit of Greece from the euro zone may lead to revenue and foreign exchange losses for companies like Thomas Cook and Cox & Kings, traders felt.

Euro, Asian Stocks Plunge as Greece Seen on Course to Default

Tokyo(Sharemasterindia.com): The euro fell almost 2 per cent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs.

With the prospect of Greece being forced out of the euro in plain sight, the common currency fell as much as 1.9 per cent to $1.0955, its lowest in almost a month, and last stood down 1.4 per cent at $1.1007.

Against the yen, the common currency dropped more than 3 per cent to 133.80 yen, a five-week low.

U.S. stock futures dived almost 2 per cent at one point to hitting a three-month low, and last traded down 1.6 per cent.

Sharemasterindia.com: Shares of companies having significant revenue exposure to the eurozone fell sharply on Monday as chances of Greece exiting the Euro zone increases with Greece set to default on its debt payment.

Tata Motors and other auto ancillary companies like Motherson Sumi Systems and Bharat Forge fell 3-8 per cent each.

The Greece exit will lead to further depreciation in the value of Euro.

Sharemasterindia.com: BSE Sensex fell sharply on Monday as the deepening Greece crisis rocked global stock and currency markets. With Greece set to default on its debt repayment, the European country has shut banks and stock markets temporarily to prevent its financial institutions from collapsing. This has raised the prospect of Greece becoming the first country to leave the currency bloc (euro) after a default.