EUROCORP

Financial Morning News 02/07/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 851.42 posting profits of 0.45%, in a turnover of €44.88mn.

Government officials resumed negotiations with troika and a new meeting is planned for tomorrow. It appeared unlikely that the talks would be completed in time for the next summit of eurozone finance ministers next Monday. A key issue expected to dominate negotiations in the coming days is a delayed overhaul of the civil service.

The German Finance Minister Mr. Wolfgang Schaeuble said that there are “fragile but real” recovery signs in Greek economy and seconded European Commissioner Olli Rehn in saying he does not recollect a proposal by the IMF for a Greek debt haircut from 2010.

The US-based fund Japonica Partners altered the terms of its offer until August 1 by increasing the total size to €4bn from €2.9bn, but also lowering its price to 40% of principal from 45% previously.

The economic sentiment of IOBE fell slightly to 93.5 points in June from 93.8 a month earlier, as the political uncertainty caused by the collapse of the three-party coalition appears to have halted that rise. IOBE noted much improved sentiment in the tourism sector but much lower consumer confidence, with a direct impact on retail trade.

Corporate Impacts

  • METKA: The company signed a new contract with the Electricity Ministry of Iraq for the construction of a combined cycle plant at Al-Anbar with a total capacity of 1,642MW, budgeted at $1.05bn. The timetable for delivery of the project is 32 months after the issue of the letter of credit.
  • Technical

    FTSE 25 September future:

      Support levels: 280-274-268. Resistance levels: 296-302-310.

    General Index:

      Support levels: 830-806-790. Resistance levels: 884-900-935.

    Disclaimer

    The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

    The use of web page eurocorp.gr is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

    Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Error Page

GlobalSoft Perquote Server 1.0.2.9

    Error 404:   

    The page requested not found!