EUROCORP

Financial Morning News 19/05/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,123.62 posting heavy losses of 4.63%, in a turnover of €459.85mn

The first round of Greece’s local elections produced a mixed result that allowed both the governing parties, New Democracy and PASOK, as well as the main opposition, SYRIZA, to claim that they had performed well ahead of the second round on Sunday, when European Parliament elections will also be held.

The center-right candidate for European Commission president Mr. Jean-Claude Juncker declared that SYRIZA leader Mr. Alexis Tsipras would not make a good Greek Prime Minister as he would not cooperate effectively with the commission.

Corporate Impacts

    • Cypriot Banks: The talks between the government of Cyprus and representatives of its international creditors on the financial sector concluded and negotiations on the fiscal front got under way with the aim of reaching a conclusion over the weekend. Sources say that the disbursement of the next bailout tranche, amounting to €186nm will depend on three factors: the voting on the regulations for the Fiscal Council, the voting on the law for the composition of the Streamlining Authority, and the submission of a report to the OECD by the end of the month.
    • Coca-Cola HBC: The company reported a net loss of €35.8mn in the first three months of the year, excluding restructuring and other one-off items vs. estimates of a €17mn, hurt by currency losses mainly in its Ukrainian operations. The currency losses would be around €90-100mn this year vs. the €51-70mn projected in February. It reiterated its guidance for free cash flow of about €1.3bn in the 2013-15 period.

Technical

FTSE 25 June future:

        Support levels: 345-340-335. Resistance levels: 358-364-372.

General Index:

      Support levels: 1,070-1,050-1,030. Resistance levels: 1,110-1,130-1,150.

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.

Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Error Page

GlobalSoft Perquote Server 1.0.2.9

    Error 404:   

    The page requested not found!