Financial Morning News 03/09/2012


The General Index in Athens Stock Exchange (ASE) closed at 646.82 posting profits of 2.82%, in a turnover of €22.48mn.

The IMF First Deputy Manager Mr. David Lipton said that they believe that the prime minister, the finance minister are dedicated to finding an appropriate path for adjustment, getting things back on track and they are trying to help.

The German Foreign Minister Mr. Guido Westerwelle said that he has confidence that Athens would carry out the painful reforms required to prevent a euro zone exit.

The Greek Finance Minister Mr. Yannis Stournaras said that the market sentiment has started to change: the bonds’ price in the secondary market has risen; deposits are beginning to return to Greek banks. Mr. Stournaras will meet with the German counterpart Mr. Wolfgang Schaeuble in Berlin tomorrow.

The Prime Minister Mr. Antonis Samaras said to the cabinet meeting that the risk of Greece leaving the euro zone has diminished slightly in recent weeks and Greece’s negotiating position has become a bit stronger.

The Public Debt Management Agency said that it will seek to sell €875mn of 26-week T-bills at an auction tomorrow.

The retail sales fell by 10.7% in June vs. -9.2% in May, as the Greek economy continued to deteriorate and consumer spending remained weak (ELSTAT).


FTSE 20 September future:

    Support levels: 226-220-216. Resistance levels: 238-246-252.


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