EUROCORP

Financial Morning News 06/06/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 476.36 posting heavy losses of 5.09% in a turnover of €45.41mn, due to the political uncertainty.

The president of the German financial watchdog Bafin, Mr. Elke Koenig said that German banks have limited exposure to Greece and should be able to handle any outcome in the southern European country.

The Chief Executive of the Royal Dutch Shell PLC Mr. Peter Voser believes that Greece will stay in the EU and in the euro and that the common currency will stay intact despite the euro zone΄s sovereign debt problems and economic downturn.

According to think tank Open Europe, Greece could need an immediate cash injection of up to €259bn if it left the euro today.

Technical

  • FTSE 20 June future: Support levels: 164-158-152. Resistance levels: 176-182-190.
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