EUROCORP

Financial Morning News 14/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,027.52 posting profits of 0.53%, in a turnover of €65.40mn.

According to the Nielsen research, Greeks are the most pessimistic consumers on the planet, as the consumer confidence index in the country had dropped to 35 points in the last quarter of 2012.

The governments of Greece, Italy and Albania signed an agreement regarding a Trans Adriatic Pipeline (TAP) project that will deliver Caspian natural gas to the European Union. The gas pipeline is expected to transport natural gas from the Shah Deniz gas project in Azerbaijan to Europe and is expected to attract €1.5bn worth of investment to Greece as well as lead to the creation of hundreds of jobs.

Corporate Impacts

  • OPAP, Hellenic Petroleum: After meeting with the Finance Minister Mr. Yannis Stournaras, the TAIPED chief Mr. Takis Athanasopoulos stated that binding offers for OPAP will be submitted by April 5 and for DEPA and DESFA by April 12, with the winning bids chosen by the end of the month.
  • Technical

    FTSE 20 March future:

      Support levels: 342-336-330. Resistance levels: 354-360-366.

    General Index:

      Support levels: 1,016-1,002-992. Resistance levels: 1,038-1,050-1,066.

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