GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 982.01 posting profits of 2.08%, in a turnover of €59.44mn.
The Eurogroup Working Group approved the disbursement of the €2.8bn euro loan tranche to Greece. The payment of the next installment, amounting to €6bn will be decided at a Eurogroup meeting next Monday.
The EU Task Force said that Greece’s efforts to overhaul its deeply dysfunctional bureaucracy still remain a work in progress, underscoring the major challenges Greece still faces even as it rushes to secure new aid from international creditors.
The Producer Price Index fell 1.5% in March after a decrease of 1.1% in February this year (ELSTAT).
- NBG: The Chief Executive Mr. Alexandros Tourkolias stressed that he is confident the bank will achieve the target of at least 10% participation from the private sector, so that the lender can avoid nationalization and called on the bank’s shareholders to take part in the process not for sentimental or ideological reasons, but because of National’s comparative advantages.
- EYATH: The The state privatizations fund (TAIPED) was reportedly satisfied with the expressions of interest from four bidders for the Thessaloniki Water Company. According to press reports, the 51% stake has attracted the interest of a consortium comprising Suez and Ellaktor, a Greek-Israeli consortium made up of of GEK-Terna and Mekorot, as well as Greek-Russian entrepreneur Ivan Savvidis and a Thessaloniki citizens’ movement that is against the privatization of the city’s water company.
FTSE 25 June future:
- Support levels: 320-314-308. Resistance levels: 332-338-344.
- Support levels: 950-930-910. Resistance levels: 990-1,020-1,050.
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