EUROCORP

Financial Morning News 06/11/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 829.07 posting profits of 3.35%, in a turnover of €79.80mn.

The government submitted the package of measures to Parliament yesterday. The austerity measures and structural reforms will get a majority vote in Parliament tomorrow, before the ballot on the 2013 national budget is held at midnight on Sunday, November 11. At the same time, the workers’ unions GSEE and ADEDY and employers’ unions ESEE and GSEVEE will hold a 48-hour strike through tomorrow.

Greece will auction €1bn of six-month T-bills today to refinance a €1.6bn maturing issue (PDMA).

A senior EU official said that a deal on keeping Greece afloat and providing more bailout money for the near-bankrupt state is unlikely to be reached next week when euro zone finance ministers meet in Brussels (Reuters).

Corporate Impacts

  • Cypriot Banks:The Germany’s finance ministry said that a deal on a bailout for Cyprus will likely be difficult to achieve before 2013.
  • Technical

    FTSE 20 September future:

      Support levels: 300-294-287. Resistance levels: 314-320-326.

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