EUROCORP

Financial Morning News 05/04/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 842.76 posting profits of 0.52%, in a turnover of €38.53mn.

A spokesman for the European Commission said that there is no set deadline for the completion of negotiations between the Greek government and troika officials.

The Economic sentiment of the Foundation for Economic and Industrial Research hit a three-and-a-half-year high in March, amid signs that confidence among businesses was stabilizing, but as record unemployment continues to weigh on consumer spending.

The Prime Minister Mr. Antonis Samaras said that the first signs of recovery of the Greek economy are already visible, addressing a conference on the utilization of EU funds in the next programming period of 2014-2020, budgeted at €36bn

Corporate Impacts

  • PPC: According to an agreement between the company and the GENOP workers’ union,a total of 35 special benefits enjoyed by employees have been struck from PPC workers’ collective labor contract.
  • Cypriot Banks: The government spokesman Mr. Christos Stylianides said that Cyprus’s economy might contract as much as 13% this year under the weight of austerity measures and a restructuring of the country’s banks as agreed in return for a bailout.
  • Technical

    FTSE 25 June future:

      Support levels: 262-254-250. Resistance levels: 276-282-290.

    General Index:

      Support levels: 830-805-780. Resistance levels: 860-880-910.

    Disclaimer

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