EUROCORP

Financial Morning News 15/07/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,178.38 posting profits of 2.03%, in a turnover of €59.00mn.


Greece has beaten its target for its primary budget surplus for the first six months of the year. The primary budget surplus reached at €712mn compared with a €1.5bn deficit during the first half of 2014 and a target of a €635 million deficit. The government’s revenue income rose to €23.6bn for the period January-to-June from €22.6bn a year earlier, while the budget spending fell to €26.03bn in the first six months of the year from €27.6 billion previously.

The representatives from the troika are due to meet the Finance Minister Mr. Gikas Hardouvelis today. Their main aim will be to prepare the ground for the September review of Greece’s adjustment program.

Corporate Impacts

    • Anemos Hellenic Technodomiki: IPO was reportedly covered 50% by private investors and 50% by institutionalsat the price of €1.70. Note that the trading will commence on 27 July.

Technical

FTSE 25 September future:

        Support levels: 375-368-360. Resistance levels: 388-394-400.

General Index:

      Support levels: 1,155-1,135-1,100. Resistance levels: 1,185-1,210-1,230.

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