GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 926.55 posting marginal losses of 0.04%, in a turnover of €57.70mn, but posting considerable weekly gains of 12.59%.
The political leaders agreed on how to proceed with cutbacks in the state sector, with 4,000 departures expected by the end of the year. At the same time, the Prime Minister Mr. Antonis Samaras said that the dismissal of state workers was not illegal if the positions they hold are abolished through the merging of state bodies.
According to Reuters, troika completed their review of Greek progress, paving the way for the release of €10bn, €2.8bn in rescue loans and €7.2bn in bonds to recapitalize Greek banks.
- Construction Companies: The Development Ministry expects the stalled highway construction projects to restart within this month, after signing agreements with the four contractors regarding their compensation from the state, amounting to over €350mn.
- Cypriot Banks: The Eurozone finance ministers approved a €10bn bailout for Cyprus, although several national parliaments, including the German one, still have to agree to the package. The Cypriot government spokesman Mr. Christos Stylianides said there was no question of a further haircut on deposits, despite the troika’s debt sustainability analysis showing that Cyprus could need a total of €23.5bn by the end of 2016, rather than the €17bn originally thought.
- Piraeus Bank: The bank postponed a shareholder vote on its €7.3bn recapitalization plan to April 18 because not enough shareholders turned up to a meeting on Friday.
FTSE 25 June future:
- Support levels: 292-286-280. Resistance levels: 307-314-320.
- Support levels: 910-880-860. Resistance levels: 950-960-975.
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.
You 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.