EUROCORP

Financial Morning News 04/02/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,208.14 posting profits of 2.65% for third consecutive session, in a turnover of €117.28mn.

The US Assistant Secretary of State Ms. Victoria Nuland said that Washington is focused on supporting Greece through this reform effort and supporting the dual agenda of implementing reform and stimulating growth.

The Manufacturing PMI in January reached at 51.2 points, up from 49.6 points in December. Note that this was the first time the index passed 50 since August 2009, reflecting expansion in output levels and new orders.

The German finance ministry rejected yesterday a weekend media report that a third aid package for Greece could include a further debt haircut.

Corporate Impacts

  • Titan Cement: The subsidiary, Titan Global Finance PLC and a syndicate of Greek and International banks executed a new €430mn multicurrency forward start syndicated revolving credit facility, guaranteed by the TITAN Cement Company S.A.
  • Technical

    FTSE 25 February future:

      Support levels: 390-385-380. Resistance levels: 405-412-420.

    General Index:

      Support levels: 1,200-1,190-1,170. Resistance levels: 1,230-1,255-1,280.

    Disclaimer

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