EUROCORP

Financial Morning News 03/10/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,011.67 posting losses of 0.99%, in a turnover of €39.10mn.

The Prime Minister Mr. Antonis Samaras is scheduled to visit today the headquarters of Dow Chemical Company in New York and then meet with the Greek-American organization Hellenic Initiative, in the presence of former US President Bill Clinton and former White House Communications Director George Stephanopoulos.

Corporate Impacts

  • Aegean Airlines: According to press reports, the company is set to secure EU approval for its second bid for Olympic Air after convincing competition regulators its rival is likely to close down if the deal is blocked. Please note that Aegean said the proposed €72mn acquisition is crucial for the viability of both airlines. The European Commission rejected Aegean’s first attempt to buy Olympic in 2011 from MIG because of the combined company’s quasi-monopoly in the Greek air travel market. The source said EU Competition Commissioner Joaquin Almunia is set to announce his approval of the deal on October 9.
  • Technical

    FTSE 25 October future:

      Support levels: 335-330-324. Resistance levels: 348-356-362.

    General Index:

      Support levels: 1,000- 980-955. Resistance levels: 1,030-1,050-1,080.

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