EUROCORP

Financial Morning News 06/09/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed in a 4-month high at 675.07 posting significant profits of 3.57%, in a turnover of €53.54mn. Attention will focus solely on the ECB before tomorrow΄s meeting between the Greek Prime Minister Mr. Samaras and the European Council President Mr. Van Rompuy.

The German Finance Minister Mr. Wolfgang Schaeuble ruled out a third aid package for Greece but mentioned that Greece would stay in the eurozone despite its difficulties.

The government said that Greece selected Norway’s Petroleum Geo-Services to carry out offshore seismic tests in the country’s south and west, paving the way for the launch of an oil and gas drilling bidding round in 2014.

According to the annual Global Competitiveness Report 2011-2012, the Greek competitiveness dipped seven slots to 90th among 142 countries.

The Dutch Prime Minister Mr. Mark Rutte promised voters that the Netherlands won΄t give any more aid to Greece if he remains in power, and said it may be inevitable that Greece will leave the euro zone.

Corporate Impacts

  • Cypriot Banks: The foreign minister said that Cyprus will not ease off fiscal austerity measures required by its EU partners if it secures a €5bn loan from Russia.
  • Technical

    FTSE 20 September future:

      Support levels: 238-230-226. Resistance levels: 250-258-262.

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