EUROCORP

Financial Morning News 20/09/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,022.75 posting profits of 2.19%, in a turnover of €91.39mn.

The quarterly unemployment figures in Greece fell for the first time in almost four years in the second quarter of 2013, declining from 27.4% in Q1 to 27.1%.

The Finance Minister Mr. Yiannis Stournaras confirmed that he expects the Greek economy to shrink by about 3.8% in the full year, less than a previously estimated 4.2% contraction. He added that indicators are showing a trend in the Greek economy, towards a smaller recession and slowly towards recovery.

The ECB executive board member Mr. Joerg Asmussen after meeting with the Greek opposition leader Mr. Alexis Tsipras.said that Greece is on track to reach a primary surplus this year if it sticks with the reforms.

Corporate Impacts

  • Hellenic Petroleum: DEPA negotiates with Gazprom for lower natural gas prices Greek side demands that prices be reduced by at least 20% to meet average prices paid in Western Europe.
  • Technical

    FTSE 25 October future:

      Support levels: 342-336-330. Resistance levels: 358-366-372.

    General Index:

      Support levels: 1,000- 980-955. Resistance levels: 1,030-1,050-1,070.

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