GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,223.48 posting profits of 143%, in a turnover of €807.33mn.
The IMF’s executive board agreed on Friday to disburse the loan tranche of €3.41bn to Greece and recognized the large fiscal adjustment that has been achieved in Greece. However, it also stressed the need for the government to continue to implement structural reforms, such as market liberalization, to make the country more attractive to investors and boost the recovery.
The German Finance Minister Mr. Wolfgang Schaeuble said that a third bailout for Greece would be less than €10bn, significantly smaller than each of the previous aid packages.
The retail sales by volume fell 0.8% in March compared to the same month last year. The reading had risen at a revised annual pace of 0.9% in February, more than previously estimated (ELSTAT).
- NBG Fitch announced that it has placed NBG’s mortgage-covered bonds’ B+ rating on Rating Watch Positive, following the upgrade of Greece’s sovereign long-term rating to B, from B- a week earlier.
- EYDAP: The company reported first-quarter profit fell 79% as a one-time tax gain wasn’t repeated. Net income dropped to €5.5mn from €25.7mn, while revenue dropped to€ 70.7mn from €73.1mn a year earlier.
FTSE 25 June future:
- Support levels: 388-380-374. Resistance levels: 403-410-418.
- Support levels: 1,220-1,200-1,185. Resistance levels: 1,241-1,250-1,265.
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