Financial Morning News 16/04/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,186.99 posting losses of 1.72%, in a turnover of €204.12mn.

Greece raised €1.625bn in yesterday’s sale of 13-week T-bills with a yield of 2.45% vs. 3.1% in the previous auction. The bid to cover ratio was 2.73 times from 2.38 times previously.

Corporate Impacts

  • PPC: The EdF’s CEO Mr. Henri Proglio met with the Prime Minister Mr. Antonis Samaras on Monday and told him about the French company’s intention to buy PPC. Note that EdF is present in the Greek electricity market through the JV of Edison with Hellenic Petroleum.
  • Eurobank: Fairfax, Capital Research and Management, Wilbur Ross, Fidelity, Mackenzie and Brookfield are the strategic investors comprising the consortium that will cover €1.331bn or 46.5% of €2.86bn share capital increase. The book will open at the end of April, once the necessary regulator approvals are secured, and the bank’s administration is aiming to have the process completed by April 30.
  • Piraeus Bank: The new 1,029,411,764 shares that resulted from the recent €1.75bn share capital increase will start trading today.
  • Technical

    FTSE 25 April future:

      Support levels: 378-374-368. Resistance levels: 388-395-405.

    General Index:

      Support levels: 1,180-1,170-1,150. Resistance levels: 1,220-1,250-1,280.


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