GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,007.99 posting profits of 0.95%, in a turnover of €58.76mn, breaking a six-year tradition of February losses.
The Prime Minister Mr. Antonis Samaras, the Finance Minister Mr. Yannis Stournaras and other ministry officials are to meet again today to discuss strategy ahead of the anticipated arrival in Greece of the troika chiefs on Sunday. Greece and its progress in implementing reforms is expected to be discussed at the next Eurogroup summit in Brussels on Monday.
The retail sales in December dropped by 8.6% in December from -9.1% a year earlier (ELSTAT).
- ΟΤΕ:It reported a net fourth quarter loss of €43.7mn (est: -€66mn) from losses of €77.1mn in 2011, as the costs of an early retirement plan weighed on earnings, but said it was nearing the end of its restructuring plan. The revenues were €1.13bn from €1.24bn in 2011, while EBITDA was €269.6mn vs. €408.3mn in 2011. The adjusted net profit, excluding voluntary retirement scheme and capital gain from Serbian asset sale was €54.7mn from €71.9 in 2011.
- Hellenic Petroleum:It reported a 70% rise in profits to €232mn (est: €223.2mn) as stronger refining margins and soaring exports more than offset a slump in domestic demand for its fuels. The company its dividend to €0.15 a share from the €0.45 it paid last year but said it would announce additional payments to shareholders over the next few months.
- Cypriot Banks:a) A senior euro-zone official said that troika could return to Cyprus to work on a bailout deal ahead of the meeting of euro-zone finance ministers in Brussels on March 4. The official said that a bailout deal for Cyprus could be reached in late March b) Moody’s said that election of a pro-bailout candidate in Cypriot elections boosted chances of a financial deal with international lenders.
FTSE 25 March future:
- Support levels: 330-324-318. Resistance levels: 343-348-354.
- Support levels: 990-970-960. Resistance levels: 1,020-1,030-1,050.
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