Financial Morning News 08/01/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,238.06 posting significant profits of 2.70%, in a turnover of €99.53mn.

The head of the Eurozone’s bailout fund Mr. Klaus Regling ruled out the possibility of a restructuring of Greek debt. He said that the interest on these loans was deferred for the next 10 years and all this equals a debt restructuring, from an economic point of view. He added that it is unlikely that the country’s other creditors would be open to changes in Greece’s agreement.

The total value of imports-arrivals in November amounted to €3.67bn, recording a drop of 15.3%. The corresponding change excluding oil products recorded an increase of 4.4%. The total value of exports-dispatches in the same period amounted to €2.14bn, recording a drop of 22.6%. The corresponding change excluding oil products recorded a drop of 7.9% (ELSTAT).

Greece sold €1.625bn of six-month T-bills yesterday to roll over a maturing issue. The T-bills were at 4.10% vs. from 4.15% in a December auction, while the sale’s bid-cover ratio was 2.07, down from 2.11 in the previous sale (PDMA).

Corporate Impacts

  • Eurobank Properties: The share will trade ex rights today, while the rights will trade on January 14-22 and the subscription period is January 14-28. Note that the company aims to raise €193.2mn under the terms 0.66 new for 1 old at €4.80 per share.
  • GEKTERNA: The trading of the new 8,579,680 shares that resulted from the recent capital increase will commence today.
  • Technical

    FTSE 25 January future:

      Support levels: 402-394-388. Resistance levels: 418-424-430.

    General Index:

      Support levels: 1,218-1,200-1,180. Resistance levels: 1,250-1,280-1,300.


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