Financial Morning News 17/01/2013


The General Index in Athens Stock Exchange (ASE) closed at 952.78 posting profits of 0.18%, in a turnover of €47.25mn.

The IMF approved the loan disbursement of €3.24bn to Greece.

The number of building permits issued in Greece dropped by 43.7% in October compared to a year earlier.

Broker Metereology

    OTE: Deutsche Bank lifts the target to €8.90 from €3.70 and upgrades its rating to buy. It believes that the outlook for OTE should improve substantially through 2013, as markets already appear to be pricing Greek risk at less extreme levels, reducing cost of capital assumptions and easing the path for new debt issuance

    Corporate Impacts

    • OTE: The Company concludes deal to exchange €187mn of bonds maturing Aug. 2013 with €187.7mn issue of bonds maturing Feb. 2015.
    • Technical

      FTSE 20 December future:

        Support levels: 322-316-308. Resistance levels: 334-340-345.


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