GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,256.52 posting losses of 1.44%, in a turnover of €73.05mn.
Greece posted a current account surplus of €1.24bn in January-December last year, compared to a deficit of €4.62bn in 2012, helped by strong tourism revenue. Note that Greece achieved a current account surplus in 2013, for the first time since 1948.
Tourism receipts rose 16% year-on-year to €169mn in December, bringing total revenue in the full-year of 2013 to a record €12bn (+15%).
Corporate Impacts
- PPC: According to the Independent Power Transmission Operator (ADMIE), the electricity demand in Greece slumped 4.6% last month compared with January 2013. Note that this is not only attributed to the financial crisis but also to the rather mild temperatures in January.
Technical
FTSE 25 February future:
- Support levels: 402-395-390. Resistance levels: 416-422-430.
General Index:
- Support levels: 1,240-1,225-1,200. Resistance levels: 1,280-1,305-1,320.
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