EUROCORP

Financial Morning News 12/06/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 496.40 posting profits of 0.75%, due to the Spanish bailout, in a turnover of €36.03mn.

The member of the ECB΄s Governing Council Mr. Jens Weidmann said that the decision to stay in the euro zone is up to the Greeks and added that Greece needs to send the signal that it is ready to make the necessary structural reforms.

Corporate releases

  • 06/15: Fourlis, OTE AGM

Corporate Impacts

  • Titan Cement: The AGM of shareholders decided among others, the purchase of own shares of 10% of the share capital, including the percentage of shares that acquired previously.
  • Cypriot Banks: The Finance Minister Mr. Vassos Shiarly said that Cyprus may have to apply for an international bailout before the end of this month, both for its banks and its general coffers.
  • OTE: Moody’s downgraded its CFR to Caa1 and PDR to Caa2 from B3. The negative is outlook.
  • PPC: According to press reports, the company is in talks with the Loan and Consignment Fund for a three year loan of €130mn.
  • Technical

    FTSE 20 June future:

      Support levels: 174-168-162. Resistance levels: 188-194-200.

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