EUROCORP

Financial Morning News 10/09/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 693.49 posting profits of 2.14%, in a turnover of €49.48mn.

The deputy director of the IMF’s European Department Mr. Poul Thomsen, after his meeting with the Finance Minister Mr. YannisStournaras said that it was a good meeting. However, according to sources of the Greek Ministry of finance, the troika may have expressed certain reservations to the plan of austerity measures introduced by the government. Mr. Stournaras is scheduled to present the finalized spending cuts package to a Eurogroup meeting on Friday.

The leaders of the three parties’ coalition government failed to agree yesterday on a package of spending cuts worth €11.5bn. There are some measures they cannot agree on, such as across-the-board cuts in pensions and cuts in disability benefits. They agreed to meet again Wednesday evening. Before that, Mr. Samaras will meet with the troika’ representatives today and with the ECB president Mr. Mario Draghi, in Frankfurt tomorrow.

The EU Council President Mr. Herman van Rompuy after his meeting with the Prime Minister Mr. Antonis Samaras urged Greece to press ahead with promised economic reforms and improve tax efficiency, insisting that compliance will allow Greece to stay in the euro.

GDP decreased by 6.3% in the second quarter of 2012 (est: -6.2%). The consumer spending fell by 7.2%, while investments declined by 19.4% over the same period (ELSTAT).

Technical

FTSE 20 September future:

    Support levels: 244-238-230. Resistance levels: 258-266-270.

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.

Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Cannot retrieve http://vtickersrv.monopoly.gr/eurocorp.htm