EUROCORP

Financial Morning News 02/01/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,162.68 posting profits of 0.40%, in a turnover of €138.78mn.

The Prime Minister Mr. Antonis Samaras stated that the first signs of growth will come in 2014, with the country’s debt officially announced viable and Greece making the necessary steps to exit the Memorandum agreed with its creditors.

The Deputy Prime Minister Mr. Evangelos Venizelos said that Greece’s targets between now and June are ambitious but feasible, adding that the Hellenic Presidency will also be an institutional voice in the crucial political conversation Europe will be carrying out over the next five months. Greek priorities will be creating jobs, deepening European governance, including working towards a banking union, and fighting irregular immigration.

According to the latest estimate of the Association of Hellenic Tourism Enterprises (SETE), the number of people visiting Greece during 2013 will reach 17.7mn, with respective revenues estimated at €11.7bn.

Corporate Impacts

  • NBG:It announced that 2,510 employees would leave voluntarily, exceeding its previous aim of shedding about 15% of its workforce and saving €150mn annually.
  • Technical

    FTSE 25 January future:

      Support levels: 380-372-365. Resistance levels: 395-400-408.

    General Index:

      Support levels: 1,150-1,140-1,130. Resistance levels: 1,185-1,200-1,230.

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