EUROCORP

Financial Morning News 13/01/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,296.39 posting profits of 0.50%, in a turnover of €167.45mn.

The Finance Minister Mr. Yannis Stournaras stated that the troika will return to Athens in the coming days, refusing to give a specific date. He added that the government sent all the data concerning the bridging of the fiscal gap of 2014, estimated at €1.2bn. Finance Ministry sources said that the target date for an agreement with the troika is in mid-February, so that Greece collects the tranche of €4.9bn by the end of next month.

The German Foreign Minister Mr. Frank-Walter Steinmeier urged Greece’s conservative-led coalition to brave the political cost and stay the course on economic reforms.

Corporate Impacts

  • Viohalco: EGMs of subsidiaries voted against a public offer.
  • PPC: According to press reports, the company plans to tap the markets with a €300-400mn issue.
  • Technical

    FTSE 25 January future:

      Support levels: 420-412-404. Resistance levels: 432-438-444.

    General Index:

      Support levels: 1,270-1,250-1,230. Resistance levels: 1,310-1,320-1,350.

    Disclaimer

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