EUROCORP

Financial Morning News 22/05/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,090.89 posting losses of 3.96%, in a turnover of €143.43mn.

The technocrats of the troika will arrive in Athens on June 4 to assess Greece’s progress. However a senior official said that the “main inspection” by the troika will take place in autumn.

Corporate Impacts

  • Hellenic Petroleum: The Prime Minister Mr. Antonis Samaras met with the Gazprom CEO Mr. Alexey Miller to discuss the sale of DEPA. This was Miller’s third visit to Athens in just over two months. The CEO of Greece’s privatization agency, Yiannis Emiris, also took part in the talks. Please note that binding bids are due to be submitted on May 29 for DEPA, which posted a net profit of €106mn. Gazprom last year made a non-binding bid of €900mn.
  • Greek Banks: The ECB funding to Greek banks fell by €10.5bn to €60.91bn in April while emergency liquidity assistance (ELA) from the country’s central bank increased by €12bn to €33.43bn (BoG).
  • Technical

    FTSE 25 June future:

      Support levels: 370-364-356. Resistance levels: 386-394-400.

    General Index:

      Support levels: 1,074-1,055-1,030. Resistance levels: 1,120-1,160-1,180.

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