EUROCORP

Financial Morning News 11/01/2013

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 984.85 posting profits of 0.10%, in a turnover of €67.90mn.

The central government budget gap fell to €15.91bn for the Jan-December period from €22.77bn in the same period last year.

According to IOBE, the economy is expected to shrink by 4.6% this year, slightly worse than the estimate from the government (-4.5%) and the international lenders (-4.2%)

The unemployment rate rose to 26.8% in October from 19.7% a year earlier. At the same time, IOBE estimates that the unemployment rate is expected to reach 27.3% in 2013 (ELSTAT).

The consumer prices fell 0.3% in December from November, pulling the annual rate of inflation down to 0.8% from 1.0% the prior month (ELSTAT).

Corporate Impacts

  • Greek Banks:NBG, Eurobank and Alpha Bank will not present binding offers for Hellenic Postbank today, as Hellenic Postbank will be forced to split in bad and good bank.
  • Technical

    FTSE 20 March future:

      Support levels: 332-326-320. Resistance levels: 344-350-358.

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