Financial Morning News 17/01/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,271.31 posting losses of 0.97%, in a turnover of €115.91mn.

The Deputy Prime Minister Mr. Evangelos Venizelos will meet with US Secretary of State Mr. John Kerry in Washington today. They are expected to discuss the developments related to Greece’s presidency of the European Union, which started on January 1st. Mr. Venizelos will also meet with the US Treasury secretary Mr. Jack Lew.

The European Commission spokesman Mr. Olivier Bailly said that troika inspectors are expected to return to Athens before the end of the month, rejecting Greek media reports that troika officials would return to the Greek capital on January 20 or 22.

At the same time, the government is aiming for a comprehensive settlement on pending reforms and other issues next month to ensure that negotiations are not open in the countdown to European and local authority elections in May.

Meanwhile, data from Eurostat, showed that Greece experienced negative inflation of 1.8% in December, which is the lowest among the EU.

Corporate Impacts

  • Greek Banks: The BoG governor Mr. George Provopoulos said that Greek banks will need additional capital. Note that BoG will announce the Greek capital needs by the end of Junuary. He also stated that BoG is closely monitored Hellenic Postbank and there was “good cooperation” with judicial authorities investigating the bank’s lending activities.
  • Technical

    FTSE 25 January future:

      Support levels: 414-408-400. Resistance levels: 426-432-438.

    General Index:

      Support levels: 1,250-1,230-1,210. Resistance levels: 1,290-1,308-1,330.


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