EUROCORP

Financial Morning News 23/08/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 898.08 posting losses of 0.63%, in a turnover of €26.88mn.

The Prime Minister Mr. Antonis Samaras, after his meeting with the PASOK leader Mr. Evangelos Venizelos said that there will be no foreclosures on homes belonging to underprivileged social groups and he added that the government is studying a framework of reforms that will secure the vulnerable but will also prohibit abusive behaviour and seek to protect mortgage credit.

The President of the Eurogroup Mr. Jeroen Dijsselbloem said that Greece will need more financial assistance in 2014 and the form and size of any assistance will depend on Greece’s adherence to economic reforms.

The revenues from tourism in Greece reached €3.3bn (+17.8%) in the first half of this year. Please note that Greece is hoping that a record year for tourism, with some 17mn visitors expected.

Corporate Impacts

  • Companies for Privatization: The Greek Prime Minister Mr. Antonis Samaras met with the Saudi billionaire Prince Alwaleed bin Talal yesterdeay. They discused investment opportunities, as Greece is looking to attract investors into its asset sales program, which includes its gas company DEPA, utility PPC, the Athens international airport, refiner Hellenic Petroleum and its two main ports to help chop its debt load.
  • Technical

    FTSE 25 September future:

      Support levels: 302-298-290. Resistance levels: 314-320-326.

    General Index:

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

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