EUROCORP

Financial Morning News 27/12/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,112.08 posting losses of 1.05%, in a turnover of €243.92mn.

The budget’s 2.7-billion-euro primary surplus for the first 11 months of the year was maintained. Both revenues and expenditure are within the target, bringing ever closer the achievement of a primary surplus for the whole of 2013, which would allow the government greater leverage in negotiations with its international creditors. Tax revenues amounted to €39.5bn, beating the target by €8mn, while expenditure amounted to €39.2bn against an 11-month target for €39.7bn.

Corporate Impacts

  • Eurobank Properties:The company announced the sale of one of its assets that is based in Ukraine tor €3.3mn, which entailed capital gains of €280k given the price of its acquisition. In other news, the company acquired three logistics units at Aspropyrgos for €17mn.
  • Cypriot Banks:The IMF warned that Cyprus’s efforts to extricate itself from its massive debt could weigh on output for the next decade, in a review in which it said Cyprus was well on track in its economic adjustment program.
  • Technical

    FTSE 25 January future:

      Support levels: 365-360-356. Resistance levels: 380-388-394.

    General Index:

      Support levels: 1,100-1,080-1,050. Resistance levels: 1,140-1,170-1,186.

    Disclaimer

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    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.

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