GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 794.72, posting profits of 2.45%, in a turnover of €60.51mn. .
The economy weakened sharply in the third quarter, contracting 7.2% compared with the same period a year ago (ELSTAT).
The head of IIF Mr. Charles Dallara said that Greece should be given much more time to meet its budget targets and its official creditors should provide better terms on their loans. The solution to Greece’s debt problems depended entirely on returning to growth.
The German government expects a decision on disbursing loans to Greece by the end of November, as it still does not have the full report from the troika. It also said that the euro zone finance ministers scheduled to meet next Tuesday.
The IMF chief Ms. Christine Lagarde said that the IMF expects a “real fix” and not a “quick fix” to Greece’s debt problem and she hopes for a sustainable debt level as quickly as possible.
- Cypriot Banks: The Cypriot President Mr. Dimitris Christofias said that the troika is setting “political terms” in its bailout talks that are hard for the country to accept. We remind that Mr. Christofias has promised to defend wage indexation and the 13th salary, which the troika said must be scrapped.
FTSE 20 December future:
- Support levels: 280-272-266. Resistance levels: 294-300-308.
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.