EUROCORP

Financial Morning News 22/08/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 903.76 posting profits of 0.85%, in a turnover of €36.53mn.

The ECB Executive Board member Mr. Joerg Asmussen said that he did not talk about providing Greece with further aid during the first of a two-day visit to Athens. He admitted that Athens will need more financial assistance and he welcomed Greece’s reforms efforts, describing them as “encouraging”. He suggested that any discussion of more assistance should be put off until next spring, when it will be clear if Greece has achieved a primary surplus in 2013.

The European Economic and Monetary Affairs Commissioner Mr. Olli Rehn said that Greece’s needs would be examined following the troika review next month. He did not rule out Greece needing a third bailout package but the country’s lenders have other options to keep its aid programme going.

Corporate Impacts

  • EXAE: JP Morgan Asset Management Holding reduced its stake to the company below 5%.
  • Technical

    FTSE 25 September future:

      Support levels: 304-298-290. Resistance levels: 315-320-326.

    General Index:

      Support levels: 884-861-850. Resistance levels: 915-940-960.

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