They include gaming company Opap, which picked up 4.6 percent and MTKr.At, an energy infrastructure company, which rose more than 8 percent. The Greek government spokesperson, Olga Gerovasili, was optimistic about a bailout: "If we comply with the European summit terms, I believe we can reach the agreement by Aug 18." Gerovasili added that "the first phase of negotiations ends today and the second phase starts, which really contains the details of drafting (the deal)." Greek ministers of economics and finance will meet with creditors to discuss bank privatisations and recapitalisations. A few minutes before the end of the session, Milan had already shed 1.1 percent. The decrease in stocks tied to raw materials and crude oil as well as the drop in the demand from China, number one among world consumers, are all causing concern for European exchanges.
  London lost 0.18 percent, Frankfurt gained 0.04 percent and Paris lost 0.33 percent. Madrid dropped 1.07 percent. The speculative bubble deflation has been interrupted in Shanghai.
  The major Chinese exchange closed on a positive note, up 3.69 percent, after losing about 30 percent since June. Chinese markets have been propped up by the constraints imposed on short sales. The major brokers have simultaneously halted their services for short sales. Additionally, the China Securities Regulatory Commission (CSRC) has declared war on what they call 'malignant' short selling, and placed under scrutiny automatic trading of hedge funds, which have been used to draw profits from volatile markets. Yesterday the hedge funds of Usa Citadel were frozen, the first time a foreign company has been suspended. Before closure, Hong Kong lost 0.07 percent and Tokyo shed 0.1 percent. Seoul picked up 0.97 percent. (AGI)