GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 918.82 posting losses of 0.61%, in a low turnover of €18.04mn.
The Finance Minister Mr. Yannis Stournaras said that Greece could return to debt markets in the second half of 2014 if the country returns to growth in the first half of next year and manages a primary surplus. He added that Greece did not need a second debt haircut because it could reduce its debt burden by other means such as easier terms on its current international rescue packages.
The Bundesbank chief Mr. Jens Weidmann repeated his opposition to a debt write-down for Greece, as it would be counterproductive and send the wrong signal to countries receiving aid.
The ECB Executive Board member Mr. Joerg Asmussen said that Greece can achieve a primary budget surplus this year and growth in 2014 if it sticks to economic reforms, but a return to bond markets will be challenging.
- METKA: The company has been commissioned by Germany’s Krauss Maffei Wegmann (KMW) to construct the armored hulls and towers for 62 Leopard 2 tanks. The deal is worth €56.5mn and is expected to be signed soon.
- Fourlis: Q2’13 results.
FTSE 25 September future:
- Support levels: 310-304-300. Resistance levels: 322-328-334.
- Support levels: 910-884-861. Resistance levels: 940-960-980.
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