EUROCORP

Financial Morning News 07/06/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 477.42 posting marginal profits of 0.22% in a turnover of €30.73mn.

The Ministry of Finance announced that the budget execution of the general government in Jan-April 2012 showed a deficit of €7.6bn vs. a deficit of €5.47bn in the same period last year. The primary deficit shrank to €18m vs. €1.48bn previously.

Economic Releases

  • 06/07: March’s Unemployment rate
  • 06/08: Q1’12 GDP, May’s CPI and April’s Industrial Production

Corporate Releases

  • 06/08: Titan Cement AGM, OPAP Ex-Dividend €0.72

Corporate Impacts

  • Jumbo: It announced that fiscal 11-month sales advanced 0.74% and it estimates that for the current financial year the group will achieve its targets for growth both in sales and profit after tax of 0% to 1%, despite the deteriorating economic environment.
  • Cypriot Banks: The Cypriot ambassador to the EU Mr. Kornelios Korneliou said that the banking sector has a lot of problems because of exposure to the Greek market. He added that a bailout is a possibility but they are not there yet.

Technical

FTSE 20 June future:

    Support levels: 164-158-152. Resistance levels: 178-184-190.

Disclaimer

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The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

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