Financial Morning News 31/10/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,173.30 posting profits of 0.63%, in a turnover of €667.84mn.

The Russian Foreign Minister Mr. Sergey Lavrov emphasized Moscow’s commitment to supporting Greece’s efforts to emerge from its financial crisis and to promote bilateral economic cooperation during talks with the Prime Minister Mr. Antonis Samaras in Athens.

Corporate Impacts

  • Piraeus Bank: The Portuguese lender Banco Comercial Portugues said that it raised €494mn from the sale of its stake in the bank (4.64%). BCP said it sold 235.3mn shares at €1.50 of Piraeus to institutional investors and the same amount in warrants at €0.60.
  • Eurobank: The HFSF Chief Executive Ms. Anastasia Sakellariou said that the price of the new share issue will be lower than the price of the shares bought in the recapitalization (€1.54). Please note that the HFSF owns 95% of Eurobank, while the rescue fund pumped €5.84bn into Eurobank in a share issue in June.
  • Bank of Cyprus: The Cyprus’s stock exchange said that the shares will remain suspended until January 31, after its shareholder structure was revamped by imposing losses on depositors.
  • Technical

    FTSE 25 November future:

      Support levels: 385-380-372. Resistance levels: 398-405-410.

    General Index:

      Support levels: 1,150-1,130-1,100. Resistance levels: 1,185-1,200-1,230.


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