GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,165.24 posting significant profits of 4.78%, in a turnover of €130.84mn.
The Finance Minister Mr. Yannis Stournaras appears keen to complete the next round of economic reforms pledged to the troika before a Eurogroup summit on January 27. He said that Greece cannot hold the EU presidency and have unresolved issues with the troika. Troika envoys are expected to be in Athens on January 13. The key issues on the agenda of talks are expected to be a projected fiscal gap for 2014, which the troika estimates at around €1.4bn.
The Bundesbank chairman Mr. Jens Weidmann ruled out another haircut to Greece’s state debt, urging Greece instead to press on with reforms to their completion.
The total value of exports in October came to €2.32bn vs. €2.57bn a year earlier. Excluding fuel, the drop is down 2.3% y-o-y. Imports fell to €4.17bn from €4.53bn a year earlier. The trade deficit fell 5.7% in October from the same month last year, while in the first 10 months of the year it dropped 13.1%.
- OTE:The company will hold an EGM today, during which the telecom’s governing board will put up for approval its proposal for a €0.44 increase in its share price due to the capitalization of reserves from non-taxable profits of previous years.
- Cypriot Banks:According to the Cypriot Finance Ministry data, the budget deficit in the first 11 months of the year was €150mns less to €596.5mn (3.63% of GDP) than in the same period last year due to the smaller-than-expected recession.
FTSE 25 January future:
- Support levels: 380-372-365. Resistance levels: 395-400-408.
- Support levels: 1,150-1,140-1,130. Resistance levels: 1,185-1,200-1,230.
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