EUROCORP

Financial Morning News 10/06/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 986.05 posting profits of 0.93%, in a low turnover of €45.84mn.

The Greek economy contracted by 5.6% in the first quarter of the year than previously estimated -5.3% reported in May in the first estimate (ELSTAT).

The former President of Eurogroup, Mr. Jean-Claude Juncker will be in Athens today, after Mr. Samara’s invitation. Please note that Mr. Juncker had mentioned that a third Greek loan could not be ruled out. In addition, Mr. Samaras faces tough negotiations as troika mission chiefs return to Athens today for a new audit as his coalition partners press for changes within the shaky administration. Mr Samaras said that the EU still lags behind in terms of competitiveness and called for common policies on reducing high energy costs, improving capital flows and innovation.

The turnover index for the tourism sector fell by 16.9% in the first quarter of 2013 vs. -24% compared to year earlier (ELSTAT).

Corporate Impacts

  • Hellenic Petroleum:The binding offers by candidates for the sale of gas companies DEPA and DESFA are expected to be submitted today. TAIPED will proclaim the winning bid by the end of the month.
  • Technical

    FTSE 25 June future:

      Support levels: 326-320-314. Resistance levels: 336-342-350.

    General Index:

      Support levels: 970-950-936. Resistance levels: 1,010-1,030-1,055.

    Disclaimer

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