EUROCORP

Financial Morning News 09/10/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,110.45 posting profits of 1.46%, in a turnover of €147.16mn.

The Prime Minister Mr. Antonis Samaras will be to Jerusalem tomorrow to take in a high-level Greek-Israeli ministerial council. During his visit, Mr. Samaras will also hold talks with Israeli President Mr. Simon Peres.

IMF forecasts growth of 0.6% in 2014 vs. a recession of 4.2% this year (govenrment estimate: -4%) and unemployment of 27% in 2013 and 26% in 2014.

Greece sold €1.3bn of six-month treasury bills yesterday to roll over a maturing issue. The T-bills were priced to yield 4.15%, slightly down from 4.20% in a September auction. The sale’s bid-cover ratio was 2.04, up from 1.89 in the previous sale (PDMA).

The executive chairman of Templeton Emerging Markets Group, Mark Mobius said that Greek and Portuguese equity markets are interesting in the longer term (Kurier newspaper).

Corporate Impacts

  • OPAP: Before the bourse opens on Friday, the Greek-Czech fund Emma Delta will complete the acquisition of 105mn shares in OPAP, paying the state privatization fund TAIPED €622mn.
  • Technical

    FTSE 25 October future:

      Support levels: 362-356-348. Resistance levels: 374-380-386.

    General Index:

      Support levels: 1,090-1,070- 1,050. Resistance levels: 1,115-1,130-1,159.

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