Financial Morning News 07/08/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,093.51 posting losses of 2.66%, in a turnover of €252.08mn, as there are worries that banks may need additional capital after the ECB’s stress test in November, There is also nervousness because of resurging geopolitical tension and weak European bourses.

The consumer prices fell 0.7% in July, with the annual pace of deflation decelerating from a 1.1% fall in June. The EU-harmonised deflation rate also slowed down to -0.8% in July from -1.5% in June and an estimate of -1.3% (ELSTAT).

Corporate Impacts

    • ΟΤΕ, Coca-Cola, Frigoglass, Eurobank Properties: H1’14 results
    • Mytilineos: The net sales in H1’14 amounted €653mn vs. €730.8mn, while the EBITDA increased by 12% to €120.3mn. The net profits incresed by 71% to €24.1mn, while net debt amounted to €345.9mn from €509.7mn.
    • NBG: The stock will be added to Stoxx Global 1.800 and Stoxx Europe 600, replacing the stock of Banco Espirito Santo.


FTSE 25 September future:

        Support levels: 342-336-330. Resistance levels: 358-366-374.

General Index:

      Support levels: 1,070-1,050-1,030. Resistance levels: 1,120-1,150-1,180.


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