EUROCORP

Financial Morning News 07/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,035.19 posting profits of 2.31%, in a turnover of €80.58mn.

The economic sentiment eased slightly in January to 85.8 points in January from 86.9 points in December, but remains close to a two-year high, as the decline in consumer confidence had offset an improved outlook in most business sectors (IOBE).

The Germany’s Social Democrat candidate for chancellor Mr. Peer Steinbrueck repeated his call for Greece to be given more time to complete its fiscal adjustment. However, he said that the government had to make greater efforts to produce a fairer tax system.

Corporate Impacts

  • Piraeus Bank: The Bank is in talks with Banco Comercial to buy the Portuguese lender’s Greek unit, Millennium Bank, which would reduce its recapitalization needs by €250mn.
  • Technical

    FTSE 20 March future:

      Support levels: 344-338-332. Resistance levels: 356-362-368.

    General Index:

      Support levels: 1,014-1,002-992. Resistance levels: 1,043-1,070-1,100.

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