Financial Morning News 16/05/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,123.62 posting heavy losses of 4.63%, in a turnover of €459.85mn. The Greek bond yields raised due to the rumors that capital gains would be taxed, but the Finance Ministry issued a statement quashing the rumors.

The Greek economy shrank by 1.1% in the first quarter of the year on a 12-month basis from -6% a year earlier.

Corporate Impacts

    • Titan Cement: Group turnover for the Q1’14 reached at €252mn (+7%). EBITDA increased by 31% reaching €30.5mn. Group net loss for the quarter settled at €11mn vs. a €27mn loss in the first quarter of the previous year.


FTSE 25 June future:

        Support levels: 350-344-338. Resistance levels: 362-370-378.

General Index:

      Support levels: 1,100-1,070-1,050. Resistance levels: 1,150-1,180-1,200.


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