GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 816.16, posting losses of 0.80%, in a turnover of €52.65mn.
The German Deputy Finance Minister Mr. Steffen Kampeter does not expect Germany will have to provide further aid to Greece for the foreseeable future, but added that no-one can rule it out should the world economy fundamentally worsen.
Moody’s thinks that Greek haircuts will be needed as debt levels will remain unsustainable despite the recent debt reduction plans.
The Social Democrats are advising their parliamentarians to vote in favour of the new package of financing measures for Greece in a Bundestag vote expected today. The party head Mr. Sigmar Gabriel said only eight party members indicated in a test vote that they would oppose the aid measures.
Economic Releases
-
Turnover Index in Retail Trade, September
- Greek Banks:There was no progress in the yesterday meeting between the Finance Minister Mr. Yannis Stournaras and the Hellenic Bank Association regarding the issues of the bond buyback plan and the sector’s recapitalization. Mr. Stournaras reiterated the need for the buyback plan to succeed and reminded bankers that such alternatives have already been rejected by the ECB and the EC.
Corporate Releases
-
PPC EGM
Corporate Impacts
Technical
FTSE 20 December future:
- Support levels: 282-276-270. Resistance levels: 295-302-308.
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.
You 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.