EUROCORP

Financial Morning News 06/03/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,319.59 posting losses of 0.28%, in a turnover of €103.14mn.

The government spokesman Mr. Simos Kedikoglou said that the dispute between Greece and the troika over the capital shortfall for the banks need not hold up an overall deal paving the way for more aid. Mr. Kedikoglou is optimistic for an initial deal by the Eurogroup on Monday. Note that Greece has no pressing funding needs until May when bond payments of nearly €10bn are due.

The Cypriot President Mr. Nicos Anastasiades is expected to meet with the German Chancellor Ms. Angela Merkel in Dublin tomorrow. They were expected to discuss the Cyprus issue and the Cypriot economy.

Corporate Impacts

  • OTE: FY’13 results. In other news, the company announced that it will not distribute dividend for 2013.
  • Technical

    FTSE 25 March future:

      Support levels: 420-415-408. Resistance levels: 432-440-446.

    General Index:

      Support levels: 1,305-1,280-1,250. Resistance levels: 1,335-1,350-1,380.

    Disclaimer

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