EUROCORP

Financial Morning News 21/05/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,119.30 posting profits of 4.95%, in a turnover of €268.25mn.

The Center of Planning and Economic Research (KEPE) expects Greece’s economy to revert to expansion in the current quarter and that growth will amount to 0.5% at the end of the year. The anticipated beginning of the growth period within the year reflects the considerable progress regarding the balancing of the main fiscal figures, the return to normality in the credit sector, the promotion of significant reforms and the strengthening of competitiveness, which have resulted in an improvement of domestic economic sentiment and the bolstering of the country’s credibility. KEPE expects growth of 0.09% in the second quarter, rising to 1.04% in the July-September period and 1.35% in the last three months of the year.

Corporate Impacts

    • Mytilineos, Metka, Sarantis: Q1’14 results.
    • ELPE: Socar is closely monitoring the implementation of the investment program of Greece’s natural gas transmission network operator (DESFA) that the Azeri state energy company will soon control after agreeing to buy a 66% stake in it.

Technical

FTSE 25 June future:

        Support levels: 350-342-335. Resistance levels: 364-370-378.

General Index:

      Support levels: 1,100-1,080-1,050. Resistance levels: 1,150-1,185-1,200.

Disclaimer

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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 eurocorp.gr 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.

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