Financial Morning News 15/02/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,032.43 posting profits of 0.48%, in a turnover of €67.00mn.

The Greek economy contracted by 6.0% in the final quarter of 2012 compared with the same quarter a year earlier. The Greek economy shrank by 7.15 pct in 2011, while the government expects a further 4.5 pct decline this year (ELSTAT).

The unemployment rate rose in November to 27% from 26.6% in October (ELSTAT).

Corporate Impacts

  • CCH:The company posted a 12% decline in profits last year to €285mn, compared to the year before, due to the slide in sales in developed markets, the high cost of raw materials and the unfavourable changes in exchange rates. The company expects the adverse conditions to persist into 2013, especially in developed markets, but with a smaller increase in raw material costs and a smaller impact from exchange rate fluctuations. It also expects the public offer acceptance period regarding the acquisition of its shares by Coca-Cola HBC AG in Switzerland to start in mid-March.
  • Technical

    FTSE 20 March future:

      Support levels: 344-338-332. Resistance levels: 355-360-366.

    General Index:

      Support levels: 1,016-1,002-992. Resistance levels: 1,040-1,050-1,066.


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