GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,239.48 posting losses of 2.29%, in a turnover of €74.19mn.
The Government spokesman Mr. Simos Kedikoglou repeated that the government does not have plans to replace the Finance Minister Mr. Yannis Stournaras, as Mr. Stournaras still has significant work to do at the Finance Ministry. Note that reports earlier this month had suggested that Mr. Stournaras could become the next governor of the Bank of Greece.
The Turnover Index in Industry fell 11.7% in November after an increase of 4.5% a year earlier. The New Orders Index in Industry fell 8.9% in November after a decrease of 15.1% a year earlier (ELSTAT).
- Greek Banks: The ECB funding to Greek banks rose by €2.55bn to €63.23bn in December, while emergency liquidity assistance (ELA) from the BoG rose by €370mn to €9.79bn. Note that lower emergency funding from the BoG helps .
- BoG: The net profits of the Bank of Greece reached at €831.1mn in 2013, more than twice 2012’s earnings of €318.6mn. The Greek state will receive €817.8mn as dividend.
FTSE 25 February future:
- Support levels: 402-396-390. Resistance levels: 415-422-430.
- Support levels: 1,230-1,210-1,190. Resistance levels: 1,255-1,280-1,300.
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