EUROCORP

Financial Morning News 14/10/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,109.20 posting losses of 1.34%, in a turnover of €731.69mn.

The Finance Minister Mr. Yannis Stournaras travels to Luxembourg to take part in a Eurogroup meeting of Eurozone Finance Ministers.

The European Economic and Monetary Affairs Commissioner Mr. Olli Rehn said that giving fiscal relief to Greece by cutting its debt load should not be a goal of policy makers, saying he preferred other means.

The ECB’s President Mr. Mario Draghi said that the current economic projections for Greece are well-founded and there is no prospect of Greek default.

According to press reports, the Finance Ministry officials proposed to troika representatives a way of covering an anticipated funding gap for next year of €4.4bn in a bid to postpone talk about further measures. Some €4.4bn in bonds that were issued in 2009 as a capital boost for Greek banks and are to mature next May would be replaced by new bonds. Such a move would cover an estimated funding gap for next year and, Greek officials hope, would postpone until spring any discussion about the sustainability of Greece’s debt and the possible need for new austerity measures for 2015 and 2016.

Corporate Impacts

  • OPAP: Emma Delta, controlled by Czech investor Jiri Smejc and Greek businessman George Melissanidis, paid €622mn for a 33% stake in OPAP. The fund will pay an additional €3mn a year for the next 10 years.
  • Technical

    FTSE 25 October future:

      Support levels: 362-356-350. Resistance levels: 375-382-390.

    General Index:

      Support levels: 1,090-1,070-1,050. Resistance levels: 1,130-1,159-1,180.

    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!