EUROCORP

Financial Morning News 11/11/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,169.04 posting marginal losses of 0.17%, in a turnover of €130.36mn.

A censure motion against the government by leftist opposition SYRIZA failed to pass in Parliament, falling far short of the required majority with only 124 votes in the 300-seat House but the coalition’s majority was reduced by one, to 154, after PASOK deputy Ms. Theodora Tzakri defected from the government line.

Corporate Impacts

  • ΟΤΕ: The company plans to cut 1,100 jobs at its domestic fixed-line business. The job cuts are expected to cost OTE between €120mn and €200mn, depending on the number of employees who agree to leave.
  • EXAE: EGM to approve the draft merger agreement for the merger of HELEX with its 100% subsidiary ATHEX and the spin-off from HELEX and contribution to its subsidiary Thessaloniki Stock Exchange centre of the Central Securities Depository business.
  • Mytilineos: PPC threatened to ditch Aluminium SA, upping the ante in a five-year row between the two firms over power supply prices. PPC’s management board unanimously decided to scrap its contract with Aluminium, effective November 18.
  • Technical

    FTSE 25 November future:

      Support levels: 384-378-372. Resistance levels: 395-400-408.

    General Index:

      Support levels: 1,150-1,130-1,110. Resistance levels: 1,185-1,200-1,230.

    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.

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