EUROCORP

Financial Morning News 29/08/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 881.03 posting marginal losses of 0.04%, in a low turnover of €30.84mn.

The EU Economic and Monetary Affairs Commissioner Mr. Olli Rehn said that it is too early to judge how much extra money Greece will need to plug an emerging hole in its rescue program. He added that troika will do its job and make the analysis of the potential financing gap in autumn.

The Austrian Finance Minister Ms. Maria Fekter said that Greece must meet terms of its existing international bailout before it can hope for any more external aid.

Corporate Impacts

  • OPAP, Intralot: The 12-year concession agreement for the State lotteries was submitted to Parliament and it is expected to be approved today. The OPAP-led consortium will deposit the €190mn upfront payment, while the government’s benefit is estimated to €524mn.
  • Piraeus Bank: It reported a net profit of €3.509bn, including a one-off gain of €3.81bn from the Cypriot takeover. Provisions for impaired loans reached €1.054bn, with its NPLs rising to 33% from 31%. Net interest income reached €734mn, helped by lower funding costs after reduced recourse to the Greek central bank’s costly emergency liquidity facility (ELA) and a drop in deposit rates.
  • Greek Banks: Deposits of businesses and households fell 0.2% from the previous month to €162.39bn from €162.67bn in June (BoG).
  • Cypriot Banks: Private-sector deposits fell by 2.4% to €36.7bn after a 7.6% fall in June (ECB data).
  • Technical

    FTSE 25 September future:

      Support levels: 298-290-284. Resistance levels: 310-316-322.

    General Index:

      Support levels: 861-850-830. Resistance levels: 910-940-960.

    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