EUROCORP

Financial Morning News 12/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,013.35 posting losses of 0.90%, in a turnover of €37.38mn.

The total value of exports excluding oil products for the 12-month time increased by 6%, while the total value of imports, excluding oil products decreased by 5.8% (ELSTAT).

The government achieved a budget surplus of €159mn against a target for an €873mn deficit in the first month of 2013. Revenues, however, were down in January as state earnings from VAT and consumption tax fell. The budget revenues stood at €4.4bn, which was €241mn or 5.2% short of the target.

Corporate Impacts

  • Cypriot Banks: The Cypriot Finance Minister Mr. Vassos Shiarly ruled out the idea of the country’s bailout being accompanied by losses for the domestic and foreign depositors. The ECB executive board member Mr. Joerg Asmussen said that an aid package for Cyprus will be ready by the end of next month (Handelsblatt).
  • Technical

    FTSE 20 March future:

      Support levels: 340-334-328. Resistance levels: 352-360-366.

    General Index:

      Support levels: 1,002-992-980. Resistance levels: 1,024-1,030-1,050.

    Disclaimer

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