EUROCORP

Financial Morning News 19/04/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 918.81 posting losses of 0.53%, in a turnover of €69.61mn.

According to a Finance Ministry statement. The Chinese investors interested in buying a majority stake in Athens International Airport (AIA).

Corporate Impacts

  • OTE: It received at least two bids for its Bulgarian unit Globul (it expects €700mn), but it will ask for improved offers before it decides to sell or not. Turkey’s telecoms company Turk Telekom said it had placed a binding bid, while Deutsche Telekom has also bid.
  • Greek Banks:: After the meeting between the Finance Minister Mr. Yannis Stournaras and the BoG Governor Mr. Giorgos Provopoulos, it confirmed that the recapitalization process in the local credit sector was progressing and stressed that all four systemic banks will have reached the necessary decisions for their share capital increases by the end of this month, in accordance with the timetable. Mr. Stournaras and Provopoulos also discussed issues connected to the formation of a strategy for restructuring the banking system.
  • Piraeus Bank: The bank announced that it has sold its 93.27% holding in ATE Bank Romania SA. for €10.3mn to the businessman Dorinel Umbrarescu.
  • Cypriot Banks: The Germany’s lower house of parliament voted to grant Cyprus a €10bn bailout. Of the 602 lawmakers in the Bundestag chamber, 487 backed the rescue.
  • Technical

    FTSE 25 June future:

      Support levels: 300-292-288. Resistance levels: 312-318-324.

    General Index:

      Support levels: 903-880-860. Resistance levels: 936-950-975.

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