Today's M^3 - Greek Equity Index FTSE/ASE Small Cap IX Up 6% for the Week

The Major Market Move post for today highlights one of the Greek equity indexes, the FTSE/ASE Small Cap IX. It's received a recent boost from the news that the Europeans are close to finalizing another bailout plan as well as the results of the confidence vote for Greek prime minister Papandreou.



The Small Cap index benefited the most from the recent good news while the other Greek indexes were only up about half as much over the same time frame. Apparently the bailout program is seen by the markets as having a more positive effect on smaller companies.



But we need to keep things in perspective. This is a minor retrace compared to the drop that stocks have experienced from the beginning of the year. Greece is by no means out of the woods yet with their debt problems.



(Click on the images for a larger view.
Click here for the current performance of global equity indexes.)