EUROCORP

Financial Morning News 11/07/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,173.01 posting losses of 1.70%, in a turnover of €164.58mn.


Greece raised €1.5bn from the issue of a three-year bond yesterday with a yield of 3.5%. It received orders worth €3bn, but it had been expected to raise between €2.5bn to €3bn.The government expressed its satisfaction that once again international investors showed their confidence in the Greek economy.

The unemployment in April was 27.3%, the same as in March and 27.5 a year earlier, after taking into account seasonally adjusted revisions (ELSTAT). Note that according to latest European Commission forecast, the unemployment is expected to ease to an average rate of 26% this year from 27.3% in 2013.

Corporate Impacts

    • PPC: The government proposed a discussion in Parliament today on whether a clutch of proposals by opposition parties for a debate on a referendum about the partial privatization of the PPC can be approved but the main leftist opposition SYRIZA looked set to boycott the session.

Technical

FTSE 25 September future:

        Support levels: 364-358-352. Resistance levels: 378-385-392.

General Index:

      Support levels: 1,135-1,120-1,100. Resistance levels: 1,185-1,209-1,230.

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