EUROCORP

Financial Morning News 22/07/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,149.00 posting losses of 0.80%, in a turnover of €105.29mn.

The primary budget surplus was €707 mn in the first half of the year (€70mn ahead of target) vs. a primary deficit of €1.51bn the same period last year. The state budget recorded a deficit of €2.41bn in the first six months of the year, from a deficit of €4.99bn last year, down from a revised budget target for a deficit of €3.85bn. Net state budget revenues totalled €23.615bn, up 1% from a revised budget target, while regular budget net revenues totalled €20.64bn, up 0.3% from revised targets. State budget spending totalled €26.03bn, down €1.19bn from a revised target, while regular budget spending totalled €23.67bn, down €1.24bn from revised targets.

The current account balance swung into a deficit in May at €246mn from a surplus of €70mn in May 2013. Tourism revenues stood at €1.07bn in May from €1.06bn in the same month in 2013.

The Hellenic Statistical Authority (ELSTAT) will publish its second-quarter data on new building construction costs and the June figures on new building construction materials’ prices.

Corporate Impacts

    • Eltech Anemos: The company is to be listed on the Athens stock market today.
    • ElteLamda Development: The new shares that resulted from the recent share capital increase (35.3mn) will start trading today in the ASE.

Technical

FTSE 25 September future:

        Support levels: 365-360-355. Resistance levels: 378-386-394.

General Index:

      Support levels: 1,140-1,100-1,080. Resistance levels: 1,180-1,210-1,230.

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