EUROCORP

Financial Morning News 27/0/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,303.35 posting significant profits of 3.28%, in a turnover of €141.86mn. Note that Greece’s bonds jumped, sending yields to a four-year low, on speculation the country will reach an agreement with international creditors to ensure its bank-recapitalization requirements are manageable.

The Prime Minister Mr. Antonis Samaras said that Greece has energy deposits that could be worth €150bn in state revenue over the next 30 years.

According to press reports, the arrivals from international destinations were increased by 14.7% during January. The president of the Association of Greek Toursim Enterprises Mr. Andreas Andreadis said that forecasts for 2014 show another record year for Greek tourism.

The Finland’s Prime Minister Mr. Jyrki Katainen is expected to meet with the Prime Minister Antonis Samaras in Athens this week. Discussions between the two prime ministers were expected to focus on the economic situation in Greece and Finland as well as issues of competitiveness.

Corporate Impacts

  • Hellenic Petroleum, Titan Cement: FY’13 results
  • Greek Banks: Non-performing loans held by Greek banks rose to about 31% of their total loan book at the end of the third quarter last year from 29.3% at the end of the first half (Reuters).
  • Technical

    FTSE 25 March future:

      Support levels: 412-406-400. Resistance levels: 426-432-440.

    General Index:

      Support levels: 1,280-1,250-1,220. Resistance levels: 1,320-1,350-1,380.

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