EUROCORP

Financial Morning News 29/11/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,180.77 posting profits of 0.42%, in a turnover of €73,57mn.

According to press reports, a deal between the government and the troika on the size of a projected fiscal hole for next year and on reforms Greece must implement to secure continued rescue funding is unlikely to be reached before the Eurogroup summit on December 9 and the anticipated return of troika might be delayed. It had been expected that troika officials would return to Athens next Monday. If a deal is not reached by December 9, it is likely the two sides will aim for a solution before a EU leaders’ summit on December 19 and 20.

Corporate Impacts

  • Piraeus Bank, Eurobank, GEK TERNA, EYDAP: 9M’13 results.
  • Alpha Bank: The bank announced in 9M’13 profits of €2.47bn or losses of €102mn without the impact of Emporiki Bank. The net interest income in Q3’13 increased by 6.7% at €440.6mn, due to the lower cost of time deposits and wholesale funding. NPL’s stood at 32.9%, while the bank improved its liquidity position driven by deleveraging and stability in deposits (loan to deposit Ratio in Greece at 119%, improving from 167% in June 2012). The bank has a strong capital position with a Core Tier I ratio at 13.5%.
  • Folli-Follie: The company in 9M’13 reported sales of €638.1mn (+6.2%), EBITDA of €127.2mn (+31.5%) and net profits of €112mn (+38.3%). Please note that the net debt improved to €111.3mn from €592mn at end 2012.
  • Cypriot Banks: Private-sector deposits fell by 1.3% to €35.1bn, after a 1% fall in September (ECB).
  • Greek Banks: Private-sector deposits fell to €160.3bn in October vs. €161.3bn in September (ECB).
  • Technical

    FTSE 25 November future:

      Support levels: 384-378-372. Resistance levels: 395-400-408.

    General Index:

      Support levels: 1,165-1,150-1,140. Resistance levels: 1,200-1,210-1,230.

    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.

Error Page

GlobalSoft Perquote Server 1.0.2.9

    Error 404:   

    The page requested not found!