EUROCORP

Financial Morning News 01/10/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 739.12 posting losses of 0.45%, in a low turnover of €36.17mn.

The government is scheduled to table the 2012 draft budget in Parliament.

The Finance Minister Mr. Yannis Stournaras is expected to meet today with the envoys of the Troika officials. Troika officials are then expected to meet with Prime Minister Antonis Samaras and probably also with his coalition partners, the Socialist leader Mr. Evangelos Venizelos and Mr. Fotis Kouvelis of the Democratic Left.

The main opposition Social Democrats Mr. Peer Steinbrueck said that Greece should be given more time to reform its economy and must not be thrown out of the eurozone and he ruled out a Greek exit from the eurozone.

The retail sales dropped 8% in July compared with a year earlier, due to the impact of a four-year recession (ELSTAT).

Corporate Impacts

  • Alpha Bank:Credit Agricole is expected to pick Alpha Bank as the preferred bidder for its ailing Greek unit Emporiki Bank (Reuters).
  • Technical

    FTSE 20 September future:

      Support levels: 266-258-252. Resistance levels: 278-286-292.

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