GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,248.61posting profits of 2.51%, in a turnover of €142.33mn.
Tomorrow, Eurostat is expected to confirm the government’s forecast of a primary surplus for 2013. Note that Eurozone leaders have said this could pave the way for a discussion about a possible lightening of Greece’s debt.
According to BoG, the budget’s cash results for the first three months of the year pointed to a primary surplus of €771mn and if the revenues from the transfer of earnings from bonds and the exclusion of expired dent payments are included, this figure increases to €932mn. The cash deficit amounted to €1.14bn vs. €2.76bn in the first quarter of 2013. The central bank also announced that the current account balance showed a deficit of €709mn in February, which was €25mn more than that of February 2013.
According to Reuters poll of 35 economists, Greece is expected to generate a 0.3% GDP growth for 2014 (IMF: +0.6%) with unemployment at 26.8%, while in 2015 they will stand at 1.7% (IMF: +2.9%) and 26.3% respectively.
- NBG: The bank mandated BofA Merrill Lynch, Citi, Goldman Sachs International, HSBC and Morgan Stanley to arrange investor calls and a group presentation in London next week. A Euro denominated RegS senior unsecured transaction may follow, subject to market conditions.
- Eurobank: The capital increase will take place from April 25 to 29 and 10% of the new shares will be offered to investors in Greece alongside the cash call to international investors. The Eurobank chief executive Mr. Christos Megalou expressed certainty that the lender’s share capital increase will be successfully completed very soon.
- PPC: According to press reports, the company is planning to tap the markets with the issue of a corporate bond to draw €500mn.
FTSE 25 April future:
- Support levels: 395-390-385. Resistance levels: 410-416-422.
- Support levels: 1,230-1,215-1,200. Resistance levels: 1,280-1,305-1,330.
The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, 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 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.
You 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.