Financial Morning News 04/07/2012


The General Index in Athens Stock Exchange (ASE) closed at 620.05 posting profits of 0.75%, in a low turnover of €22.11mn.

The Prime Minister Mr. Antonis Samaras is to present the new government’s policy platform on Friday. The new Finance Minister Mr. Yannis Stournaras is to be sworn tomorrow. He said that the most critical negotiation will take place in August, and the result will determine the disbursement of the next tranche.

The Deputy Finance Minister Mr. Christos Staikouras said that Greece΄s new government will focus on cutting the country΄s budget and current account deficits together with reviving its recession-hit economy.

The head of the European Commission’s Task Force for Mr. Horst Reichenbach said that decisions on how the country will cut the size of its public sector workforce lies with the Greek government and he added that the Greek recovery will be very difficult. The coalition government had agreed recently to reduce the size of its public sector workforce through retirement schemes rather than layoffs.

Corporate Impacts

  • Greek Banks: The Socialist PASOK leader Mr. Evangelos hopes that Greece would be able to benefit from the EU concession allowing the use of EU rescue funding for the direct recapitalization of local banks.
  • Cypriot Banks: Experts from the EC, ECB and the IMF arrived in Cyprus yesterday to examine the country’s request for financial aid and met officials from the ministry, the Central Bank of Cyprus and various public services. The contacts will be continued in the coming days and will include meetings with political parties, the House of Representatives, the social partners and the administrations of the largest credit institutions.
  • Technical

    FTSE 20 September future:

      Support levels: 220-214-208. Resistance levels: 235-242-250.


    The information that EUROCORP (henceforth the “Company”) provides via the web page, 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 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.

    Get Adobe ReaderYou 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.

Error Page

GlobalSoft Perquote Server

    Error 404:   

    The page requested not found!