Financial Morning News 07/06/2012


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.


FTSE 20 June future:

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


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