Financial Morning News 20/11/2012


The General Index in Athens Stock Exchange (ASE) closed at 820.91, posting profits of 3.85%, in a turnover of €53.11mn.

The Eurogroup is meeting today in order to discuss Greece’s debt sustainability and funding gap and Greece finalized the details regarding structural reforms and fiscal monitoring. We hope that the eurozone finance ministers will reach agreement on Greek financing aid. However, the Finance Ministry spokeswoman Ms. Marianne Kothe reiterated its opposition to a write down of Greek sovereign debt, saying that a haircut on GGBs remains unimaginable. Berlin also cautioned that a final decision could not be taken today as parliaments first had to give their go-ahead. At the same time, the IMF called on European lenders to offer debt relief to Greece.

According to Reuters, the Euro zone finance ministers will give a tentative go-ahead for the disbursement of €44bn in emergency loans to Greece today, but the money will only be paid on December 5 if the country meets all remaining conditions.

The Austria Finance Minister Ms. Maria Fekter reiterated her opposition to giving Greece more aid and she said that Greece should not expect a write-off of its debts.

The overall current account balance swung to a €774.6mn surplus in September from a deficit of €1.07bn a year ago, reflecting a steep fall in the value of imported goods, which fell 30% from a year earlier to €1.67bn.

The new orders index in industry fell by 11.4% in September vs. 3.8% a year earlier (ELSTAT).

Corporate Releases

    OPAP Q3’12 results Estimates: Sales: €888.20mn, EBITDA: €147mn Net Income: €109.5mn

    Corporate Impacts

    • Jumbo:The fiscal first-quarter profit reduced by 4.23% to €17.15mn from €17.90mn in the same period of 2011. The sales rose 2.84% at €123.97mn from €120.55mn.
    • Technical

      FTSE 20 December future:

        Support levels: 290-284-278. Resistance levels: 300-308-316.


      The information that EUROCORP (henceforth the “Company”) provides via the web page, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

      The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

      The use of web page is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

      Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Cannot retrieve