EUROCORP

Financial Morning News 04/03/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,310.41posting profits of 1.27%, in a turnover of €138.66mn.

According to press reports, the talks between government officials and troika over the weekend made progress in some areas but the two sides remained far from an agreement, stressing however that the goal remained to reach a deal before next Monday’s Eurogroup summit.

Today, the troika envoys are to meet the Health Minister Mr. Adonis Georgiadis and the Development Minister Mr. Costis Hatzidakis and later in the week with the Administrative Reform Minister Mr. Kyriakos Mitsotakis and the Labor Minister Mr. Yiannis Vroutsis.

Retail sales by volume dropped 6.1% in October after a 2.9% rise in November, mostly due to a 9.2% fall in supermarkets and 11% in pharmaceuticals and cosmetics.

Corporate Impacts

  • PPA According to press reports, Cosco is ready to submit its bid for the acquisition of the majority stake in privatization of Piraeus Port Authority, with the proposal also including investment and development proposals aimed at turning Piraeus into the biggest port in the Mediterranean.
  • Technical

    FTSE 25 March future:

      Support levels: 416-410-402. Resistance levels: 428-435-440.

    General Index:

      Support levels: 1,280-1,250-1,220. Resistance levels: 1,325-1,350-1,380.

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