EUROCORP

Financial Morning News 18/09/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 734.99 posting losses of 1.08%, in a turnover of €47.22mn.

The German Chancellor Ms. Angela Merkel said that Germany is ready to help Greece and wants it to succeed, but she added that it is important that ‘these reforms, some of them difficult, be carried through.

The IIF warned that further delay to the review and approval of Greece΄s bailout program would be a key source of event risk and add to the strains on the Greek economy.

Greece will auction €1bn of three-month T-bills today to fund the rollover of a previous €1.6bn issue that comes due on September 21.

Corporate Impacts

  • CCH:According to Sky TV, the company is considering switching its main listing from the ASE to the London Stock Exchange in a move which could lift it to the blue-chip FTSE 100 index. In response to this comment, the company announced that it is seeking to better leverage its stock exchange listings.
  • OPAP: According to the Finance Ministry, the Greek state has been in talks with the regulator for “a long time” on the games of chance tax issue and the talks are ongoing. The Greek regulator inquired on Friday about a Greek media report that said the EC may ask for OPAP’s land-based games tax to be raised to 30 percent immediately to adhere to European Union regulations.
  • Cypriot Banks: The governor of the central bank Mr. Panicos Demetriades said that Cyprus is hoping for direct capital injections into its banks from the euro-zone’s rescue fund from January 2013 (German daily Handelsblatt).
  • Technical

    FTSE 20 September future:

      Support levels: 268-262-256. Resistance levels: 280-286-292.

    Disclaimer

    The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

    The use of web page eurocorp.gr is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

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