EUROCORP

Financial Morning News 14/05/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,065.22 posting profits of 2.98%, in a turnover of €105.27mn.

The Eurozone Finance Ministers approved the disbursement of two bailout tranches, amounting to €7.5bn (€4.2bn will be disbursed on the following days, while €3.3bn will be released in June, if Greece completes the “milestones” it has agreed for May and a troika review will not be needed for this disbursement, which will be agreed by the Euro Working Group).

The European Commission said that Greece will hit its fiscal targets this year and next but needs additional savings to meet its bailout requirements in 2015 and 2016.

Greece’s lenders said in a draft report that the progress on privatizing state assets is unsatisfactory but the country’s overall debt outlook remains unchanged as it steps up budget cuts. The target for revenues from privatizations had been cut to €2bn this year from €2.6bn (Reuters).

The Prime Minister Mr. Antonis Samaras said that Greece can beat the targets set under its €240bn IMF and euro area bailout program and return to bond markets in the first half of next year.

Corporate Impacts

  • Cypriot Banks: The European Stability Mechanism approved the disbursal of the first part of Cyprus’s first bailout installment, to the tune of €2bn. The second part, worth €1bn will be transferred on June 30.
  • Technical

    FTSE 25 June future:

      Support levels: 362-356-348. Resistance levels: 374-380-386.

    General Index:

      Support levels: 1,050-1,030-1,010. Resistance levels: 1,070-1,100-1,150.

    Disclaimer

    The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

    The use of web page eurocorp.gr is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

    Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Error Page

GlobalSoft Perquote Server 1.0.2.9

    Error 404:   

    The page requested not found!