GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 621.77 posting losses of 0.23%, in a low turnover of €9.44mn.
Greece sold €4.062bn of three-month T-bills on Tuesday with yield of 4.43%, 15 basis points more than in the previous sale. The sale’s bid-cover ratio was 1.36 vs. 2.12 in the July 17 auction. Most of the funds will go to repay €3.1bn in bonds held by the ECB that mature August 20. The remaining funds will go to the general budget and should ensure that Greece has enough money through the end of September.
According to Financial Times, Greece is seeking a two-year extension of its fiscal adjustment program that aims to improve the sustainability of the Greek debt and the country’s prospects to return to growth.
- 08/17 Hellenic Petroleum Ex. Dividend €0.45
- NBG:The Turkish unit, Finansbank said that its second-quarter net profit rose 23.4% to 222.9mn lira.
- Cypriot Banks:a) The second-quarter GDP contracted an unadjusted 2.3% on the year after a 1.5% contraction in the first quarter b) The Cyprus Popular Bank announced that its first-half earnings were expected to be worse than a year ago after booking higher provisions for bad debt.
FTSE 20 September future:
- Support levels: 218-212-204. Resistance levels: 230-236-242.
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