EUROCORP

Financial Morning News 27/09/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 755.09 posting profits of 0.38%, in a turnover of €44.68mn.

The Prime Minister Mr. Antonis Samaras is due to meet the other two coalition partners, PASOK’s Evangelos Venizelos and Democratic Left’s Fotis Kouvelis today to discuss the package of €11.5bn reductions, as well as €2bn worth of new tax measures.

The EU economics chief Mr. Olli Rehn said that a fresh restructuring of Greece’s debt is not on the cards and he added that it is difficult to judge what the next steps in Greece will be ,as the country is still undergoing a review of its bailout program by the troika.

The Governing Council member Mr. Jens Weidmann said that the ECB will not fill potential financing gaps in Greece’s budget.

Economic Releases

  • 28/09 PPI y-o-y-August, Retail sales-July.
  • Corporate Impacts

    • OPAP: The chief executive of the TAIPED Mr. Yiannis Emiris said that the process for the sale of a 33% stake will formally start this week, with an invitation for expressions of interest in the controlling stake. The interested parties will have to submit offers by November.
    • Sidenor: An Italian government source said that the intergovernmental agreement for the building of the Trans-Adriatic Pipeline (TAP) gas project that will link Italy, Greece and Albania will be signed on Friday.
    • Technical

      FTSE 20 September future:

        Support levels: 268-262-256. Resistance levels: 282-290-296.

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