EUROCORP

Financial Morning News 03/01/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,205.96 posting significant profits of 3.64%, in a turnover of €65.97mn.

The PMI index hit its highest level in four years, as it amounted to 49.6 points in December from 49.2 points a month earlier.

The government utilized €5bn of subsidies in 2013, which allows for some optimism that the remaining €5.8bn will be fully absorbed by the program’s end-2015 deadline.

Corporate Impacts

  • Greek Banks:There are rumors that the ECB will accept domestic banks’ request to reduce their capital adequacy threshold (Core Tier I index) from 9% to 8% (the same as that of their eurozone peers).
  • Technical

    FTSE 25 January future:

      Support levels: 392-386-380. Resistance levels: 408-414-420.

    General Index:

      Support levels: 1,190-1,170-1,150. Resistance levels: 1,230-1,250-1,280.

    Disclaimer

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