Financial Morning News 09/12/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,177.34 posting losses of 1.09%, in a turnover of €91.44mn.

The chiefs of the troika mission to Greece are due to return to Athens tomorrow.

Greece will auction €1.25bn of six-month T-bills tomorrow to refinance a maturing issue PDMA).

Corporate Impacts

  • Greek Banks: Moody’s upgraded five biggest banks, in the wake of the country’s credit upgrading by two notches to Caa3 a week earlier. It raised the credit rating of Piraeus, National and Alpha from Caa2 to Caa1, and their outlook from “negative” to “stable.” The outlook has also improved for Eurobank and Attica Bank.
  • Alpha Bank: BoG decided to revoke the operating licenses of three cooperative banks and transfer their deposits to Alpha Bank, thereby strengthening further the capital base of the strongest systemic bank in the country.
  • NBG: According to press reports, the bank is making another attempt to sell the Gerakina Beach hotel complex, one of the top 10 resorts in Halkidiki, with a minimum asking price of €17mn. The proclamation sets the deadline for the submission of offers for December 10.
  • Jumbo: The company announced that 5-month sales growth was ahead of the full year target of 4% and it upgraded its full year sales guidance to 4%-6% from 2%-4% previously and net profit guidance to €80-85mn from €75mn previously.
  • Frigoglass: Wellington Management Company increased shareholding to 5.18%.
  • Hellenic Petroleum: According to press reports, the sale of 66% of DESFA to SOCAR might be delayed significantly or even cancelled as the European Commission will ask from Azerbaijan to comply to the third EU energy package. Please note that the Greek State is set to receive €188mn from the sale of a 31% stake, while ELPE will receive €212mn from the sale of a 35% stake.
  • Technical

    FTSE 25 December future:

      Support levels: 380-375-368. Resistance levels: 394-400-408.

    General Index:

      Support levels: 1,165-1,150-1,120. Resistance levels: 1,200-1,230-1,260.


    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!