EUROCORP

Financial Morning News 19/10/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 862.88, posting losses of 0.27%, in a turnover of €120.74mn.

The Prime Minister Mr. Antonis Samaras stressed at the EU leaders’ summit the need for Greece to receive the €31.5bn instalment in full and as soon as possible. He assured fellow leaders that Greece is close to agreeing with the troika the details of the €13.5bn package. Today, Mr. Samaras is due to meet the German Chancellor Ms. Angela Merkel at the second day of the summit in Brussels.

The head of sovereign ratings at Standard & Poor’s Mr. Moritz Kraemer said that Greece will probably default again.

According to Wall Street Journal, the euro zone is considering a voluntary debt buyback proposal that would allow Greece to retire some of the €63bn of Greek debt held by private investors.

Corporate Impacts

  • Metka:The Company signed a $103mn agreement with Al Samra Electric Power to increase the Jordanian company’s plant capacity by 146MW. We remind that in September, Metka won a $155mn contract to increase the Al Samra plant’s capacity by 143MW.
  • Technical

    FTSE 20 September future:

      Support levels: 314-308-300. Resistance levels: 328-334-340.

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