EUROCORP

Financial Morning News 11/04/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,283.96 posting losses of 0.74%, in a turnover of €201.49mn.

Greece ended a four-year exile from international markets with a bond sale of €3bn with a coupon of 4.75%, while the order book for the issue exceeded €20.8bn. Strong demand pushed down the interest rate, to just 4.95%, showing a sign of how market confidence in the country has improved. The Finance Ministry said that about 90% of the offers came from foreign institutional investors.

The Prime Minister Mr. Antonis Samaras will meet with the German Chancellor Ms. Angela Merkel in Athens today.

The seasonally-adjusted unemployment rate dipped to 26.7% in January, down from a downwardly revised 27.2% in December 2013 and 26.5% in January last year (ELSTAT).

The consumer prices fell 1.3% in March in annual terms but were 2.3% higher compared with February, mainly due to a 37.9% rise in the cost of clothing and footwear as the winter sales ended (ELSTAT).

Corporate Impacts

  • Aegean Airlines: It proceeded with the private placement of 6mn shares (8.4% of share capital) to foreign and domestic institutional investors at the price of €7.36/share.
  • Technical

    FTSE 25 April future:

      Support levels: 410-402-396. Resistance levels: 422-428-436.

    General Index:

      Support levels: 1,280-1,260-1,250. Resistance levels: 1,305-1,318-1,330.

    Disclaimer

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