EUROCORP

Financial Morning News 25/07/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 841.24 posting marginal losses of 0.13%, in a low turnover of €17.36mn.

The Eurogroup president Mr. Jeroen Dijsselbloem said that the process for Greece’s next bailout tranche of €2.5bn to be approved is due to be completed by July 29, as Greece only had one «prior action» to complete and this would be done this week. Technical experts on the Euro Working Group are due to hold another call on tomorrow morning to discuss the loan disbursement.

Αn EU representative is scheduled to present Troika’s review today, while the IMF BoD will convene on Monday, July 29 to approve the payment of the €1.8bn to Greece.

Corporate Impacts

  • OTE: A subsidiary of the OTE Group, COSMOTE Romania secured a €225mn loan (€75mn directly from the European Bank for Reconstruction and Development and €150mn through a syndicated loan from commercial banks) for the dynamic expansion of COSMOTE Romania’s 4G network and the renewal of spectrum licences. The loan matures in April 2018.
  • Technical

    FTSE 25 August future:

      Support levels: 282-276-270. Resistance levels: 294-302-310.

    General Index:

      Support levels: 830-820-806. Resistance levels: 870-884-911.

    Disclaimer

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