Financial Morning News 3/12/2012


The General Index in Athens Stock Exchange (ASE) closed at 809.14, posting losses of 0.86%, in a turnover of €59.85mn.

The German parliamentarians approved the package of new aid measures for Greece, clinching support from one of Greece’s main creditors for a plan to close a €14bn gap in the heavily indebted nation’s finances and to ready a near €44bn tranche of promised aid. The deal was backed by 473 members of parliament, while 100 voted against it, while there were 11 abstentions.

The German Chancellor Ms. Angela Merkel did not rule out a “haircut” on Greek debt in the next few years, if Greece’s financial situation improves (Bild).

The Finance Minister Mr. Yannis Stournaras will participate in the Eurogroup meeting of eurozone finance ministers on the Greek debt buyback program and the Cypriot bailout application today.

Corporate Releases

    Alpha Bank: EGM.

    Corporate Impacts

    • Cypriot Banks:The central bank governor Mr. Panicos Demetriades said that Cyprus has made preliminary plans to take up to €10bn from international creditors to recapitalise the banks.
    • Technical

      FTSE 20 December future:

        Support levels: 276-270-266. Resistance levels: 290-298-306.


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