GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 499.56 posting profits of 2.09%, in a turnover of €33.17mn.
Fitch believes that Greece’s hypothetical exit from the euro zone would have a modest direct impact on banks of other euro-zone countries, but the indirect fallout from a Greek redenomination could be severe for banks in neighboring countries, most notably Spain and Italy.
The French President Mr. Francois Hollande said that he would do everything to keep debt-hit Greece in the eurozone after talks with Spanish Prime Minister Mr. Mariano Rajoy.
According to Financial Times Deutschland, eurozone countries are ready to discuss possible relaxation of terms for debt-laden Greece to implement its fiscal policies in exchange for multi-billion-euro loans from the EU and the IMF.
According to Die Zeit Newspaper, EU is discussing giving Greece more time to curb its budget deficit and Greece will probably need a third aid package.
- 06/15: Fourlis, OTE AGM
- NBG: It bought a €26mn stake in its unit Banca Romaneasca from the European Bank for Reconstruction and Development and raised its holding by 10.2% to 99.3%. The bank plans to transfer its southeastern European units to a special-purpose vehicle and try to sell a minority stake in that company to investors (Ziarul Financiar).
- Cypriot Banks: A government official said that Cyprus is seeking financial aid to boost its banks’ capital either from another state or from its European peers adding that the funding could eventually be a combination of the two. The country needs €1.8-2bn to recapitalize Cyprus Popular Bank and an extra €2.5 -3bn in order to meet its financial needs in 2013 and 2014 (Dow Jones Newswires).
- Banks: Two senior bankers said that Greece’s big banks have seen combined daily deposit outflows of between €500-800mn over the past few days, with the pace picking up as the June 17 election approaches. Deposit outflows at smaller and medium sized banks were running at €10-30mn (Reuters).
FTSE 20 June future:
- Support levels: 174-168-162. Resistance levels: 190-198-206.
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.
You 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.