EUROCORP

Financial Morning News 06/05/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,232.52 posting losses of 0.62%, in a turnover of €74.50mn.

Euro group president Jeroen Dijsselbloem said hat any Greek debt relief will be considered in context of next review.

Greece will sell €1.0bn in 26-Week T-Bills today. We remind that the yield in the previous auction stood at 3.1% with the coverage at 3.1times.

The Greek Prime Minister Mr. Antonis Samaras met with the Saudi Arabia’s Prince Mr. Prince Alwaleed bin Talal bin Abdulaziz Alsaud yesterday. The Prince is chairman of the Kingdom Holding Company (KHC) and he expressed an interest in investing in Greece.

Corporate Impacts

    • NBG: The book building for the up to €2.5bn capital increase is starting today and ends on May 8. The allocation is expected to be announced on May 9, while the EGM on May 10 will announce the offering price.
    • PPC: The company announced the establishment of a wholly owned subsidiary in Turkey. The company will be engaged in electricity trading, within the framework of PPC’s strategy to expand in growing markets of South East Europe. The new subsidiary is currently undergoing a licensing process by the respective Regulatory Authority for Energy of Turkey.

Technical

FTSE 25 May future:

        Support levels: 390-384-378. Resistance levels: 402-410-418.

General Index:

      Support levels: 1,215-1,200-1,180. Resistance levels: 1,260-1,280-1,300.

Disclaimer

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