Financial Morning News 17/12/2012


The General Index in Athens Stock Exchange (ASE) closed at 857.05 posting losses of 0.32%, in a turnover of €37.99mn.

The Greek Prime Minister Mr. Antonis Samaras said that the decision of EU leaders to create a single supervisory mechanism for European banks would give hope to Greece that it could reduce its debt by another €50bn of debt in the future.

Greece will auction €1bn of three-month T-bills tomorrow to refinance a maturing issue (PDMA).

The commissioner Mr. Algirdas Semeta said that if Greece reforms its tax system, it could earn the 5% of GDP in revenues.

Corporate Impacts

  • Piraeus Bank:Societe Generale announced that it sold an 89.08% stake in Geniki Bank’s share capital, following the prior sale of 9.99% to Piraeus Bank on 30 November. Piraeus Bank will pay Societe Generale €1mn for the whole stake in Geniki. Prior to the sale, Societe Generale invested €460mn in Geniki and in Piraeus bonds.
  • Technical

    FTSE 20 December future:

      Support levels: 294-286-280. Resistance levels: 308-314-320.


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