EUROCORP

Financial Morning News 08/11/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,171.06 posting profits of 1.25%, in a turnover of €103.37mn.

MSCI announced that Alpha Bank, Piraeus Bank, FF Group, Hellenic Petroleum, Jumbo, NBG, PPC και Titan will be added to MSCI Greece Emerging Markets. Please note that OPAP and OTE participate in the index. The changes will be effective as of November 26.

The leftists political party SYRIZA submitted a censure motion against the government, after riot police removed employees of former public broadcaster ERT from the service’s headquarters. The move means that a vote will be held in Parliament by midnight on Sunday, with the New Democracy-PASOK coalition hoping that its seat majority will be enough to avoid its collapse.

Corporate Impacts

  • ΟΤΕ: The group announced 9M results marginally better than estimates. The Q3 revenues amounted to €1.039bn (est: €1.023m), EBITDA of €368.8m and net income of €253m. The net debt in 9M’13 decreased by 44.3% at €1.6bn.
  • CCH: The sales reduced by 5% to €1.918bn, while the net profits reduced by 5% to €148mn (est: €143mn).
  • Technical

    FTSE 25 November future:

      Support levels: 384-378-372. Resistance levels: 398-405-410.

    General Index:

      Support levels: 1,150-1,130-1,110. Resistance levels: 1,190-1,200-1,230.

    Disclaimer

    The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    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.

    The use of web page eurocorp.gr is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

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