GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,280.46 posting profits of 0.68%, in a turnover of €60.56mn.
The Finance Minister Mr. Yannis Stournaras is due back in Brussels today. At the same time, a top-ranking European official said that there is a desire for resolution. “Europeans want the evaluation of 2013 to conclude as soon as possible.
Gross domestic product shrank by 3.7% in 2013, less than a 4% contraction forecast by the government and the country’s lenders (ELSTAT).
Greek consumer prices fell 1.5% in January, with the annual pace of deflation easing from the previous month (ELSTAT).
Corporate Impacts
- OTE: According to the newspaper To Vima, Deutsche Telekom is close to a deal to increase its controlling 40% stake in Greece’s OTE by buying a further 10% from the government, as the two sides are “in advanced talks” and “ready to shake hands. However, a Finance Ministry official declined to comment on the report, as did a spokesperson for Deutsche Telekom.
- CCH: The company recorded in Q4’13 comparable profits of €34mn (+54%). The volume grew by 1% in the quarter. Specifically, a 4% volume increase in emerging markets and a stable performance in the established markets were partly offset by a 5% decline in developing markets.
Technical
FTSE 25 February future:
- Support levels: 410-402-396. Resistance levels: 422-430-436.
General Index:
- Support levels: 1,250-1,225-1,200. Resistance levels: 1,290-1,305-1,320.
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