Financial Morning News 12/11/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,165.99 posting losses of 0.26%, in a turnover of €80.42mn.

The meeting between troika representatives and the Administrative Reform Minister Mr. Kyriakos Mitsotakis postponed yesterday. The two sides had been due to discuss Greece’s progress in meeting its target of sacking 4k civil servants by the end of the year.

The troika representatives are due to meet Finance Minister Yannis Stournaras today, after an inconclusive meeting on Sunday. The government and the troika have to agree on the size of next year’s fiscal gap, with Greece believing it will be around €500mn and the troika putting it at €2bn or more.

Corporate Impacts

  • Viohalco: Today is the extraordinary general meeting of Hellenic Viohalco to decide on the approval of the Cross-Border Merger. If the quorum requirement is not met, a next meeting will be convened on 25 November 2013. If not reached at such second meeting, the meeting will be adjourned and a third meeting will be convened on 6 December 2013.
  • Sarantis: The company informed investors that Fidelity Management Research raised its stake and now holds 10.19% from 9.99% previously.
  • Titan Cement: 9M’13 results.
  • Technical

    FTSE 25 November future:

      Support levels: 380-376-370. Resistance levels: 393-400-408.

    General Index:

      Support levels: 1,150-1,130-1,110. Resistance levels: 1,180-1,200-1,230.


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