EUROCORP

Financial Morning News 15/05/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,073.47 posting profits of 0.77%, ended on a high unseen in the last 21 months, with banks again accounting for most of the day’s turnover, in a turnover of €108.25mn.

Fitch upgraded Greece’s sovereign credit rating to B- from CCC with a stable outlook, citing a rebalancing of the economy and progress in eliminating its fiscal and current account deficits that have reduced its risk of a euro zone exit. Nonetheless, sovereign debt relief and an easing of fiscal targets have lifted central bank measures of economic sentiment to a three-year high and the risk of eurozone exit have receded. Please note that Greece is rated B- with a stable outlook by S&P’s while Moody’s has a C rating on the credit.

Corporate Impacts

  • Jumbo: The company announced that 9M sales grew 0.41%, as the sales in Bulgaria were up, whereas sales in Greece and Cyprus were only marginally lower. The net profits amounted to €48m of in the 9M period (-28%), due to the Cypriot crisis.
  • Titan Cement: It reported a first-quarter loss of €27.1mn vs. a €19.4mn loss a year earlier. The sales rose 7.8% to €243mn, as continued weak demand in Greece offset signs of a recovery in the U.S. market.
  • Technical

    FTSE 25 June future:

      Support levels: 366-358-350. Resistance levels: 384-390-398.

    General Index:

      Support levels: 1,050-1,030-1,010. Resistance levels: 1,100-1,150-1,180.

    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!