Greek Morning News 20/3/2012


The General Index closed at 776.79 posting profits of 1.57%, after intraday profits of 2.23%, in a turnover of €64.36mn.

The first phase of an auction to settle credit default contracts underwritten on Greek sovereign debt determined an Initial Market Midpoint of 21.75 (Dow Jones Newswires).

The managing director of the IIF Mr. Charles Dallara said that Greece has been given the necessary room to implement the necessary structural changes to overhaul its economy.

The EU official in charge of aiding the country’s administrative overhaul Greece’s Mr. Horst Reichenbach said that exports will probably decline this year compared to 2011 (Bloomberg).

The central bank chief Mr. George Provopoulos said that Greece has an historic responsibility to implement promises made to international creditors in exchange for further aid once the new government takes power following elections, predicting another year of recession for the economy.

The government spokesman Mr. Pantelis Kapsis said that the date of the next general election will be announced next week.

Economic Releases

Date Event Period Survey Prior
03/20 Current Account JAN -2172M

Corporate Releases

  • 03/21: OPAP – FY’11 results
  • 03/22: OTE – EGM

Corporate Impacts

  • Motor Oil:
    It reported a 13% drop in 2011 profit, weighed by the absence of a one-off gain booked in the previous year. The net income was €143mn, while the company booked an €84.7mn gain from the purchase of Royal Dutch Shell’s petrol station network in Greece. EBITDA jumped 43% to €340mn, helped by a new distillation unit completed.


  • FTSE 20 June future: Support levels: 304-296-290. Resistance levels: 320-330-336.


The information that EUROCORP (henceforth the “Company”) provides via the web page, 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 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.

Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Cannot retrieve