EUROCORP

Financial Morning News 15/06/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE), ahead of parliamentary elections over the weekend, closed at 550.10 posting significant profits of 10.12%, (the biggest percentage increase in the last 10 months from August 2011) in a turnover of €81.50mn.

Greece’s jobless rate rose to a record 22.6% in the Q1’12 from 20.7% in the Q4’11 and 15.9% in the Q1’11 (ELSTAT).

IIF said that Greece’s emergency bailout program targets should be eased in light of the country’s severe economic crisis and may need more external financial help.

Eurozone officials said that eurozone will not tear up the main targets of Greece’s bailout no matter who wins Sunday’s elections, but it might consider giving a new government in Athens some leeway on how it reaches them (Reuters).

The Slovak Prime Minister, Mr. Robert Fico supports Greece remaining in the euro zone, only if the country honors its commitments, otherwise it should quit.

Corporate Impacts

  • Cyprus Banks: The advisor to Central Bank of Russia, Mr. Pavel Medvedev said that Russia is prepared to offer Cyprus a new credit of €5bn.
  • Technical

    FTSE 20 June future:

      Support levels: 198-192-186. Resistance levels: 212-220-228.

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