Financial Morning News 10/01/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,289.98 posting profits of 0.83%, in a turnover of €135.17mn.

The unemployment increased to 27.8% in October from a revised 27.7% in September and 26.1% in October (ELSTAT).

The industrial output fell 6.1% in November after a revised 4.7% drop in the previous month and a 3.4% drop a year earlier. Note that the reduced production of wood, petroleum, carbon and metal products led to a 5.8% decline in manufacturing output (ELSTAT).

Corporate Impacts

  • Frigoglass: Moody΄s downgraded the outlook of the company to negative from positive, confirming the B1ratirng. The change of outlook follows the group’s weak operating performance during the third quarter of 2013 and Moody’s expectation that operating results have remained weak during the remainder of 2013, resulting in financial metrics below the rating agency’s initial expectations and significant tightening of the group’s liquidity.
  • Technical

    FTSE 25 January future:

      Support levels: 418-410-402. Resistance levels: 430-436-442.

    General Index:

      Support levels: 1,270-1,250-1,230. Resistance levels: 1,300-1,320-1,350.


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