Financial Morning News 19/02/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,026.81 posting losses of 1.72%, in a turnover of €49.04mn.

The French President Mr. François Hollande will visit Athens to hold euro crisis talks with the Greek Prime Minister Mr. Antonis Samaras. The agenda of the meeting is dominated by talks about the Greek bailout and will also include the topic of investments.

Troika representatives will return to Greece on February 25 to check on the progress of Greece’s adjustment program. Among the issues that will top the agenda are: the overhaul of the tax system, the budget execution, the reduction of civil servants, the privatization program and the recapitalization of Greek banks. Their report will determine whether Athens will have access to a scheduled slice of €2.8bn from its international creditors due in February.

The leaders of the coalition government met yesterday to discuss about the country’s unemployment rate (27%) and how to protect the country’s most vulnerable sector that have been the most affected by austerity measures.

The number of Greeks registered as unemployed rose 4% to 1.02mln in January (OAED Manpower Organization).

Corporate Impacts

  • Cypriot Banks:The French Finance Minister Mr. Pierre Moscovici said that the aid talks for the country will take place no earlier than March, adding that parliamentary approval is needed.
  • Technical

    FTSE 25 March future:

      Support levels: 342-336-330. Resistance levels: 354-360-399.

    General Index:

      Support levels: 1,016-1,002-992. Resistance levels: 1,034-1,050-1,066.


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