EUROCORP

Financial Morning News 08/07/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,242.82 posting marginal losses of 0.08%, in a turnover of €60.46mn.


Eurogroup gave the green light for the release of €1bn to Greece but urged authorities to push forward with pending reforms agreed with the troika. The Eurogroup Chairman Mr. Jeroen Dijsselbloem welcomed the fact that Greece had honored a first set of six milestones, noting that this allows for a sum of €1bn in loans to be unlocked.

The troika chiefs are due in Athens tomorrow in order to check the progress of the government with the remaining prior actions. Their visit is expected to last around 10 days.

The head of the German-based Ifo economic institute Mr. Hans-Werner Sinn said that Southern euro-region countries need debt relief to revive economic growth and creditors should pay the cost.

According to press reports, Greece is expecting to accept bids for permits to explore for hydrocarbons in the Ionian Sea and south of Crete in the middle of next year.

Corporate Impacts

    • INTRALOT: The company signed an extension of its Agreement with Magnum Corporation Sdn. Berhad, the leading gaming company in Malaysia, for a further seven years with an option of extending it for another two years.

Technical

FTSE 25 September future:

        Support levels: 396-390-386. Resistance levels: 410-416-424.

General Index:

      Support levels: 1,225-1,206-1,180. Resistance levels: 1,265-1,285-1,300.

Disclaimer

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