EUROCORP

Financial Morning News 30/05/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,206.21posting losses of 1.14%, in a turnover of €232.50mn.

The managing board of the IMF will meet today to discuss on the fifth evaluation of the Greek program and to approve the disbursement of the next tranche of the rescue package to Greece.

Corporate Impacts

    • Piraeus Bank, EYDAP, EYATH: Q1’14 results.
    • PPC: The group reported on a higher-than-expected 65% profit rise for the first quarter to €81.3mn (est: €66.6mn) helped by lower prices for natural gas supplied by Russia’s Gazprom (€23.2mn) and by one-off gain of €21.3mn in recovered state aid in relation with a client dispute. Sales were flat at €1.489bn (est: €1.447bn).
    • Alpha Bank: The bank reported for Q1’14 losses of €94.1mn (est: -€107.6mn). In other news, Mr. Yiannis Kostopoulos was expected to resign as chairman of Alpha Bank.
    • Folli Follie: The net profits for Q1’14 amounted to €38.8mn, while EBITDA increased by 28% to €58.8mn. The sales increased by 11.2% to €227.9mn.

Technical

FTSE 25 June future:

        Support levels: 385-378-372. Resistance levels: 395-402-410.

General Index:

      Support levels: 1,195-1,185-1,150. Resistance levels: 1,230-1,250-1,265.

Disclaimer

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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.

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