GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 620.46 posting profits of 1.95%, in a turnover of €25.17mn.
The IMF is putting pressure on the eurozone to ease Greece’s bailout terms. The IMF wants to see the government debt ratio close to 100% of GDP in 2020, when Greece is supposed to have finished repaying €33bn in loans to the IMF (Wall Street Journal). The European Commission spokesman said that Greece has to bring its debt-to-gross domestic product ratio down to 120% by 2020, as agreed in the terms of the country’s second bailout, and not to 100% of GDP or another lower target.
The Finance Minister Mr. Yannis Stournaras after his meeting with the Greek president Mr. Karolos Papoulias said that Greece must finalize cuts of €3.5bn to €4bn from a total €11.5bn of austerity measures that have to be implemented in 2013 and 2014 to meet demands from international creditors.
The meeting between coalition leaders yesterday failed to yield any results, amid objections from ther partner Democratic Left to plans to revive a labor reserve scheme to reduce the public sector wage bill.
The Eurogroup President Mr. Jean-Claude Juncker said that a Greek exit from the euro zone would be manageable but is not desirable.
Greece sold €812.5mn of six-month T-bills yesterday, with the yield of 4.68% vs. 4.70% in the previous auction. The sale’s bid-cover ratio was 2.06, down from 2.16 (PDMA).
- 08/08 Mytilineos, Metka H1’12 results (before market)
- Cypriot Banks: The Russian President Mr. Vladimir Putin accepted an invitation from the President Mr. Christofias to visit the island, during a telephone conversation the two had, in which they also examined the conditions for further economic cooperation between the two countries.
- 08/09 OTE H1’12 results (before market)
FTSE 20 September future:
- Support levels: 216-210-202. Resistance levels: 230-236-242.
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.