EUROCORP

Financial Morning News 08/03/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 936.57 posting losses of 2.79%, in a turnover of €67.82mn.

The Prime Minister Mr. Antonis Samaras expressed his confidence about the prospects of the Greek economy. It is likely that a meeting between troika representatives and Mr. Samaras will take place on the weekend in order to resolve a number of issues between the Greek government and its lenders.

The unemployment rate fell for the first time in over a year in December at 26.4% from November’s record high of 26.6% and 21.4% in December 2011 (ELSTAT).

Corporate Impacts

  • Folli Follie: The stock will be added to the FTSE AllCap index on March 18.
  • OPAP: The net profits dropped by 6% to €505.5mn from €537.5mn, in line with the company’s earlier guidance for net profit of €496mn. The revenues dropped by 8.9% to €3.97bn. The company will pay a dividend of €0.57 per share (-0.21%). We remind that during a presentation of its 2013-2022 business plan to potential investors last month, the company said its net profit was likely to drop 77% to €116mn in 2013, due to higher taxes and investment.
  • OPAP, PPC, NBG, Alpha Bank and Eurobank: The shares will be deleted from the Developed Europe Mid-Caps index and they will be added to the Developed Europe Small Caps index on March 18. The same stocks are also pulled out of the FTSE All World index.
  • BoC, Marfin Bank: The shares will be deleted from the Developed Europe Small Caps index on March 18.
  • Technical

    FTSE 25 March future:

      Support levels: 300-295-290. Resistance levels: 314-322-330.

    General Index:

      Support levels: 930-910-880. Resistance levels: 958-970-985.

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