Financial Morning News 20/02/2014


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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