EUROCORP

Financial Morning News 19/06/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,270.34 posting profits of 0.94%, in a turnover of €115.00mn.


The new Finance Minister Mr. Gikas Hardouvelis prepares to face his eurozone counterparts for the first time at a summit in Luxembourg today, saying that Greece is on track to complete the prior actions that will justify the release of two tranches of rescue funding amounting to €2bn.

The Chinese Premier Mr. Li Keqiang is due in Athens today for a three-day visit. Mr. Li Keqiang said that a key aim is to expand the Chinese presence at Piraeus where Cosco is already active, declaring that the Chinese will work with Greece to make the port the best of its kind in the Mediterranean.

According to PricewaterhouseCoopers (PwC), there were 15 M&A transactions in Greece last year, with a total value of €3.3bn.

Corporate Impacts

    • MOH: AGM to propose a dividend of €0.20 per share. In other news, MOH bought 11.2% of Cyclon for €2.10mn and it now owns 37.96% of the company.

Technical

FTSE 25 September future:

        Support levels: 405-398-390. Resistance levels: 418-424-430.

General Index:

      Support levels: 1,255-1,240-1,210. Resistance levels: 1,285-1,310-1,330.

Disclaimer

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