EUROCORP

Greek Morning News 18/4/2012

GREEK MARKET

The General Index closed at 720.98 posting profits of 0.87%, despite intraday profits of 2.63%, in a turnover of €44.65mn.

IMF has forecast that the Greek economy will shrink by 4.7% of GDP this year and that the country will not see any growth in 2013.

Greece sold €1.625bn of three-month T-bills and it paid a yield of 4.20%, down from 4.25% in the previous auction. The sale΄s bid-cover ratio was 2.46 vs. 2.69 (PDMA).

Corporate Releases

  • 04/20: Alpha Bank, Eurobank, NBG, Piraeus Bank, ATEbank FY’11 results

Corporate Impacts

  • OTE: Fitch placed its΄BB΄ Long-term foreign currency Issuer Default Rating (IDR) and its ΄BB΄ senior unsecured rating on Rating Watch Negative.

Technical

  • FTSE 20 June future: Support levels: 272-266-258. Resistance levels: 290-298-306.

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