EUROCORP

Financial Morning News 13/12/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,186.93 posting losses of 0.84%, in a turnover of €76.48mn.

Greece’s central government posted a primary budget surplus of €1.2bn between January and November. The reading excludes bond profit returns of €1.5bn from European central banks to Athens, under the terms of its international bailout.

Corporate Impacts

  • Folli-Follie:Dufry will pay €175mn in cash and €153mn in shares to buy the remaining stake (49%) in the duty free business of the group. Please note that Dufry has acquired the 51% of HDF in April this year for €200.5mn.
  • Greek banks:The central bank chief Mr. George Provopoulos said that there is no chance of a haircut on deposits in the foreseeable future, given that banks have not yet made use of significant capital buffers and will create additional ones from the sale of non-core banking activities.
  • Technical

    FTSE 25 December future:

      Support levels: 382-376-370. Resistance levels: 395-400-408.

    General Index:

      Support levels: 1,170-1,150-1,130. Resistance levels: 1,200-1,230-1,260.

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