EUROCORP

Financial Morning News 27/11/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 844.80, posting marginal losses of 0.06%, in a turnover of €36.28mn.

The Eurozone finance ministers agreed on a formula to reduce Greek debt to 124% of GDP by 2020. The agreement means that Greece will receive €34.4bn by the end of the year – €23.8bn is to complete the recapitalization of Greek banks – but the remainder of the bailout loans (€9.3bn) it was expecting next month will be paid in three tranches at the beginning of next year. The ministers agreed to cut the interest rate on official loans, extend their maturity by 15 years to 30 years and grant Athens a 10-year interest repayment deferral. They promised to hand back €11bn in profits accruing to their national central banks from ECB purchases of discounted Greek government bonds in the secondary market. They also agreed to finance Greece to buy back its own bonds from private investors at what officials said was a target cost of around 35 cents in the euro.

The trade deficit for the first nine months fell 21.6% to €10.05bn. The imports fell 8.7% to €22.5bn, while exports rose by 5.3% to €12.45bn.

Corporate Releases

    PPC:Q3’12 results (before-market) Est.: Profits: €35.4mn, EBITDA: 276.10mn and Sales: €1.621bn,
    Fourlis Q3’12 results (after-market).

    Corporate Impacts

    • Motor Oil:The profit fell 43% in the first nine months of 2012 to €81.8mn (est: €74.7mn) from €143.1mn in the same period a year ago, weighed down by falling crude prices and narrower refining margins. Excluding the oil inventories, the EBITDA fell 4.5% to €254.8mn million (est: €254.7mn).
    • Technical

      FTSE 20 December future:

        Support levels: 298-292-286. Resistance levels: 310-318-322.

      Disclaimer

      The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

      The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

      The use of web page eurocorp.gr is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

      Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Cannot retrieve http://vtickersrv.monopoly.gr/eurocorp.htm