SET heads up on EU's accord

 The SET Index edged up 0.79 points or 0.07 per cent, to end the month at 1,172.11 points, on turnover of Bt33.55 billion. Foreign investors remained net-buyers for two consecutive days. As their purchases on Thursday exceeded sale by Bt2.06 billion, the net-buy position stood at Bt5.7 billion today. This narrows the net-sell position throughout June to Bt5.67 billion. Year to date, they remained net-buyer, with the net-buy position of Bt63.54 billion.
 SET President Charamporn Jotikasthira said yesterday that the exchange would be highly influenced by development in the euro zone, and this volatility is expected to remain for months.
 Today, Securities and Exchange Commission Secretary General also said that despite two-month sell-off of Thai equities, foreign funds will definitely return, thanks to the domestic economic recovery which boosted listed companies' earnings. 
 European leaders today agreed on the accord that paves the way for the eurozone's 500-billion-euro (US$630 billion) bailout fund to recapitalise ailing banks directly, without passing through national budgets and thus adding to struggling countries' debt mountains. This however, would occur only after a eurozone-wide banking supervisory body is set up, with leaders aiming for this to happen at the end of the year.
 The agreement was hailed as a success, as it immediately eased the pressure over Spain and Italy. Stocks worldwide have advanced.