GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 687.30 posting marginal profits of 0.16%, in a low turnover of €22.26mn. The market will focus on the outcome of the elections on Sunday.
Fitch said that the euro zone should still muddle through the sovereign debt crisis but alternative scenarios, most notably a Greek exit from the currency union, are increasingly likely.
- METKA: The stock will be added to FTSE 20 index on the 28th of May.
- Banks: Greek bank deposits rose 0.6% in March to €165.36bn from €164.38bn, halting a steady decline recorded in recent months (Dow Jones Newswires).
- Titan Cement: The net loss for Q1’12 stood at €19.4mn vs. €4.3mn in Q1’11, as it has been hit hard by a plunge in private housing investment and drastic cutbacks in public spending on infrastructure in Greece. The sales declined by 11% to €225.4mn, while EBITDA fell by 29% to €34mn. The firm said it would continue cutting its operating costs and that it expects annual savings of €26mn from a restructuring plan it launched last year.
- Hellenic Postbank: The stock will be deleted from FTSE 20 index on the 28th of May.
- FTSE 20 June future: Support levels: 252-246-240. Resistance levels: 268-276-282.
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.