EUROCORP

Financial Morning News 18/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,044.76 posting profits of 1.19%, in a turnover of €66.05mn.

The French President Mr. Francois Hollande will visit Athens tomorrow in order to support Greece remaining in the eurozone. According to sources, the promotion of French business interests is high on the agenda.

The Finance Minister Mr. Yannis Stournaras said that Greece plans to repay part of its debt through the securitization of revenues from privatization projects. He added that the Greek economy has stabilized in recent months, but he stressed that more needed to be done on the level of tax collection.

Corporate Impacts

  • NBG:The participation of public proposal to Eurobank shareholders (58 NBG shares for every 100 Eurobank shares) exceeded 80%. NBG issued 320mn new shares in the context of the share swap that were all given to Eurobank stakeholders. The new shares will start trading on February 27. In addition, NBG announced that the regulators have issued all approvals required.
  • Cypriot Banks:The Conservative Mr. Nicos Anastasiades and the leftist Mr. Stavros Malas will contest a runoff for the Presidency in Cyprus on February 24, after the first round of Sunday proved inconclusive.
  • Technical

    FTSE 20 March future:

      Support levels: 352-346-340. Resistance levels: 362-368-374

    General Index:

      Support levels: 1,030-1,016-1,002. Resistance levels: 1,050-1,066-1,100.

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