EUROCORP

Financial Morning News 11/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,022.57 posting losses of 1.88%, in a turnover of €47.14mn.

According to the updated fiscal plan for 2013-2016 submitted to parliament, Greece sees a smaller budget deficit of 4.3% of GDP in 2013 from a previous 5.5% projection. The updated fiscal plan also forecasts a 3.2% primary budget surplus in 2016, down from a previous target of 4.5%. The government sees a budget deficit of 2.8% of GDP in 2014, 3.7% in 2015 and 2.3% in 2016 and it also expects a 0.3% primary surplus this year, 2.45% in 2014 and 2% in 2015.

The consumer price inflation continued to ease as prices were just 0.2% higher in January compared with a year earlier (ELSTAT).

Greece will auction €1bn of three-month T-bills tomorrow to roll over maturing debt (PDMA).

Technical

FTSE 20 March future:

    Support levels: 342-336-330. Resistance levels: 354-360-366.

General Index:

    Support levels: 1,014-1,002-992. Resistance levels: 1,030-1,042-1,050.

Disclaimer

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