Financial Morning News 07/05/2012


The General Index in Athens Stock Exchange (ASE) closed at 689.86 posting marginal profits of 0.37% in a turnover of €29.12mn.

The New Democracy led by Antonis Samaras was the largest party with 18.9% of the vote, insufficient to give it an absolute majority. The leftist Syriza party scored 16.8%, while Pasok saw its score slump to 13.2%. The Golden Dawn entered to parliament for the first time with 7%. The communist KKE scored 8.5%, Independent Greeks 10.6% and Democratic Left 6.1%. The result therefore will make it tough to form a government able to keep its austerity promises and implement more cuts demanded by the country’s creditors.

The President of New Democracy Mr. Antonis Samaras suggests a government of national rescue under two conditions: a) the country will remain within the Eurozone and b) the amendment of the Memorandum policies in order to have growth and relieve the Greek society.

Greece will sell €1bn of 26-week T-Bills tomorrow.

The IMF’s director of external relations Mr. Gerry Rice said that the IMF Greek mission will visit Greece after the elections, once the new government has been formed. However, the date has not already been arranged.

Corporate Releases

  • 08/05: Alpha Bank EGM
  • 08/05: Mytilineos, Metka AGM

Broker Meteorology

  • Titan Cement: Deutsche Bank maintains its sell rating and price target at €11.50 and believes that the market continues to being a challenging one.


    • FTSE 20 June future: Support levels: 252-244-238. Resistance levels: 268-276-282.


    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!