EUROCORP

Financial Morning News 30/07/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,195.96 posting losses of 1.43%, in a turnover of €83.53mn.


The multi-bill of reforms needed for Greece to receive its next €1bn in loans and pave the way for the successful conclusion of the next troika review in September was submitted to Parliament yesterday. The government is aiming for the would-be legislation, which has been signed by 13 ministers and two alternate ministers, to be voted through the House by August 8.

Corporate Impacts

    • Hellenic Petroleum, Sarantis: H1’14 results
    • Lamda Development: The CEO of the company Mr. Athanasiou stated that there is big interest from foreign investors to participate in Hellinikon project, while Lamda, Fosun and Al Maabar are able to meet project’s financing needs.
    • Bank of Cyprus: The bank announced the successful completion of €1bn share capital increase at the price €0.24 per share. Note that among the participants in the share capital increase were WL Ross LLC and EBRD.
    • OLTH: The port operator announced that the revenues in H1’14 rose 10% as the number of containers handled at northern Greek port increased 13% to 110,740.

Technical

FTSE 25 September future:

        Support levels: 380-376-370. Resistance levels: 392-400-408.

General Index:

      Support levels: 1,190-1,175-1,140. Resistance levels: 1,220-1,230-1,250.

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