GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,314.74 posting losses of 0.64%, in a turnover of €179.73mn.
Moody’s altered its announcement for Greece rating for August 1 and if the agency decides to announce a change it will do so based on institutional obligations.
The German Finance Minister Mr. Wolfgang Schaeuble does not rule out the possibility of a third bailout deal for Greece in order to cover the country’s funding gap over the next two years.
The head of the euro zone’s bailout fund Mr. Klaus Regling warned Athens not to pay investors too much when it returns to bond markets later this month in order to avoid increasing its debt load.
The Deputy Prime Minister Mr. Evangelos Venizelos told after talks with the Prime Minister Mr. Antonis Samaras that the coalition government is determined to safeguard political stability despite differences of opinion between the two parties.
Morgan Stanley expects s Greece to achieve sustained growth, although it’s likely to take longer than expected. The bank believes Greece could return to the bond market for funding and thinks secondary-market prices imply a fair yield of around 5.3% for a potential 5-year bond and 4.2% for a potential 3-year.
- Piraeus Bank: Subscription period: 7-9 April.
- PPC: S&P’s raised the credit rating to B from CCC, based on the signing of a €2.2bn syndicated loan with a number of Greek banks and the signing of loan with European Investment Bank and a consortium of foreign banks – led by the German bank KfW. The agency also said PPC’s outlook was positive based on the estimate that the corporation will reduce its business and financial risks in the next two years. It also cited the very good relations between PPC and Greek banks. PPC signed a syndicated loan on Friday with Alpha Bank, Attica Bank, National Bank, Eurobank and Piraeus Bank.
FTSE 25 April future:
- Support levels: 420-415-408. Resistance levels: 432-440-446.
- Support levels: 1,300-1,280-1,260. Resistance levels: 1,330-1,350-1,364.
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.