EUROCORP

Financial Morning News 06/03/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 967.15 posting losses of 0.29%, in a turnover of €46.88mn.

The CEO of Qatar Holding Ahmad Mohamed Al-Sayed will visit Greece today. We remind that after the visit of the Greek Prime Minister Mr. Antonis Samaras, the Gulf state of Qatar pledged on January 29 to invest up to €1bn in Greek companies.

Greece sold €1.138bn of 26-Week Treasury Bills at an auction yesterday with a yield of 4.25% from 4.27% on February 5. The bid-to-cover ratio was at 1.64 from 1.68 previously.

Corporate Impacts

  • Cypriot Banks: The central bank head Mr. Panicos Demetriades said that Cyprus should install a special levy on capital gains from bank deposits to finance the restructuring of its banking sector. He forecasted that privatisation of state-owned property could bring €4.5bn to government. In other news, the technocrats were in Nicosia to check the assets, projects and accounts of state-run enterprises such as the electricity and telecoms authority.
  • Fourlis: Ikea pulled a batch of almond cakes from its restaurants in 23 countries, after Chinese authorities said they contained coliform bacteria, normally present in faecal matter.
  • Technical

    FTSE 25 March future:

      Support levels: 316-310-306. Resistance levels: 330-336-342.

    General Index:

      Support levels: 958-945-910. Resistance levels: 985-1,003-1,014.

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