GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,129.86 posting heavy losses of 3.10%, in a turnover of €97.20mn.
An EU official said that Greece and the troika are still “miles apart, billions apart” in terms of agreeing the size of the fiscal gap for next year and the measures needed to bridge it. He added that it was out of the question that eurozone finance ministers would take a decision on the disbursement of Greece’s next loan tranche at the upcoming Eurogroups, on Thursday and Friday, November 22 and it was unlikely that the latest review of Greece’s adjustment program would be completed by the time of the December Eurogroup.
The Greek Public Debt Management Agency said that it sold €1.3bn of 13-week T-bills at an auction yesterday with a yield of 3.90% from 3.95% on October 15. The bid-to-cover ratio was 2.03 from 1.89 previously.
- Viohalco: The Extraordinary general meeting decided on the approval of the Cross-Border Merger.
- Titan Cement: It reported Q3 sales of €316.3mn (+5.7%), with EBITDA at €61.4mn (+21.9%) and net profits of €7.2mn vs. losses of €6.4mn a year ago. In the 9M period, sales in Greece rose by 5% to €189.7mn, with US sales up 12% to €305.8mn, sales in E. Med up 4% to €228.4mn and sales in SEE down by 6% to €164.4mn.
FTSE 25 November future:
- Support levels: 368-360-355. Resistance levels: 380-386-392.
- Support levels: 1,110-1,100-1,080. Resistance levels: 1,150-1,180-1,200.
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