EUROCORP

Financial Morning News 20/02/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,038.29 posting profits of 1.12%, in a turnover of €50.43mn.

The French President Mr. Francois Hollande after his visit to Greece said that France is willing to help Greece with privatisations, tourism and a public sector overhaul. He added that Greece should make efforts, it should meet its commitments, but its efforts have been considerable. The Prime Minister. Mr. Antonis Samaras praised France for having helped Greece stay in the euro zone.

According to a German finance ministry document, the final budget data on Greece is expected to show that Greece met the targets of the aid program backed by troika, paving the way to pay out the next instalment of €2.8bn of aid to Greece (Dow Jones Newswires).

Corporate Impacts

  • Jumbo:The company posted a 2.3% fall in net profit to €56.5mn from €57.8mn for the six months, with robust sales in the Balkans partly offsetting the impact of the deep recession in Greece. The company reiterated its target of net profit of €70mn in the 12 months to June 30 this year, down 28% y-oy. Full-year sales are forecast to rise by up to 1% from €494.3mn in the 12 months to June 30, 2012.
  • NBG:The Second Extraordinary General Meeting of Shareholders decided yesterday to reduce the share capital by the amount of €3.8bn, which will be a corresponding reduction in the par value of the ordinary voting shares of the bank to €1.00 from €5.00 previously.
  • Technical

    FTSE 25 March future:

      Support levels: 346-340-334. Resistance levels: 358-364-370.

    General Index:

      Support levels: 1,030-1,016-1,002. Resistance levels: 1,050-1,066-1,100.

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