EUROCORP

Financial Morning News 31/01/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 996.82 posting losses of 0.84%, in a turnover of €49.92mn.

Corporate Impacts

  • Greek Banks: According to press reports, banks probably will obtain an extension to their end-April deadline to raise fresh capital. The extension is needed because NBG and Eurobank are merging. In other news, Hellenic Postbank’s voluntary redundancy plan of about 700 employees must be completed as soon as possible.
  • Cypriot Banks: The President Mr. Dimitris Christofias said that Russia is ready to help Cyprus by joining the EU in putting together a rescue package for the country. We remind that Cyprus has received a €2.5bn loan from Russia and has formally asked to extend repayment of the loan from 2016 to 2021.
  • OTE: The Company issued €700mn of five-year bonds paying a 7.875% coupon. The bid-to-cover ratio was 2.7 times.
  • Technical

    FTSE 20 March future:

      Support levels: 332-326-320. Resistance levels: 342-346-352.

    General Index:

      Support levels: 990-975-955. Resistance levels: 1,014-1,030-1,050.

    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.

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