Financial Morning News 21/05/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,135.83 posting losses of 1.46%, in a turnover of €151.79mn.

After the Prime Minister Mr. Antonis Samaras’s visit to Baku on Sunday, the government is hopeful that Azerbaijan will choose to transport its natural gas via the Trans Adriatic Pipeline (TAP), which will pass through Greece. Please note that according to a study by IOBE, Greece will see investments of €1.5bn as a result of the pipeline with the direct creation of 2k jobs, while another 10k would be created indirectly.

The new orders index in industry fell by 12.7% in March compared to a year earlier (ELSTAT).

Corporate Impacts

  • Piraeus Bank: It reported net profits of €3.62bn compared with €46mn in the same period a year earlier. The figure included €3.41bn goodwill write-back from the Cypriot takeover and a deferred tax asset of €540mn. Excluding the one-off gain, the bank said it lost €336mn before taxes. The bank’s loan-loss provisions rose to €506mn in the first quarter from €296mn a year earlier, with its ratio of NPL) rising to 31% of its loan book from 23.3% in December.
  • NBG: The bank proceeds to reverse split 1 new share for every 10 shares. The price of new shares is at €4.29 of €0.429 before reverse split and the bank will issue 2.2 new shares for 1 old share.
  • Technical

    FTSE 25 June future:

      Support levels: 382-374-368. Resistance levels: 398-406-410.

    General Index:

      Support levels: 1,115-1,105-1,070. Resistance levels: 1,160-1,180-1,250.


    The information that EUROCORP (henceforth the “Company”) provides via the web page, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

    The use of web page is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

    Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Error Page

GlobalSoft Perquote Server

    Error 404:   

    The page requested not found!