Financial Morning News 28/07/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,214.62 posting significant profits of 3.27%, in a turnover of €156.75mn.

The deficit in the trade balance reached at €8.8bn at end-May, up from €8bn a year earlier, while if oil products are not included the growth amounts to €1.2bn, or 23.7%.

Corporate Impacts

    • Greek banks: Business and household deposits rose in June for the fourth month in a row to €163.2bn from €162.1bn in May (BoG). In other news, Fitch upgraded the mortgage-covered bond programs of NBG, Alpha Bank, Eurobank and Piraeus Bank to B-/Stable/B with a b- viability rating. The outlook is stable, reflecting that on the respective banks’ Issuer Default Ratings (IDR).
    • Coca-Cola: The company announced the admission to trading on the Athens Exchange of 56,908 ordinary registered Company’s shares with a par value of CHF6.70 which has already been issued following the exercise of stock options. The new shares will commence trading today.
    • Cypriot Banks: The Cypriot President Mr. Nicos Anastasiades is due in Athens today for talks with the Prime Minister Mr. Antonis Samaras, while the talks that are expected to focus on Nicosia’s reunification talks with Turkish-Cypriots.


FTSE 25 September future:

        Support levels: 382-376-370. Resistance levels: 396-402-410.

General Index:

      Support levels: 1,200-1,175-1,140. Resistance levels: 1,230-1,250-1,280.


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