GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 626.22 posting losses of 2.04%, in a turnover of €15.44mn.
A finance ministry official said that Greece will easily reimburse maturing bonds held by the ECB, easing concerns about a possible default and added that Greece aims to reach a deal with the troika by the middle of September over the budget cuts. The final package will be determined with a visiting delegation from the troika, when officials are expected to return to Athens in early September.
The Germany’s Deputy Finance Minister Mr. Steffen Kampeter said that no final decisions will be taken regarding Greece’s bailout when Prime Minister Antonis Samaras meets German Chancellor Angela Merkel on Friday. Germany would wait until the troika delivers its assessment on Greece’s progress next month.
The ECB executive board member Mr. Joerg Asmussen said that a Greek euro exit would be “manageable” but much more expensive than some people believe.
The foreign minister Mr. Guido Westerwelle after meeting with his Greek counterpart Mr. Dimitris Avramopoulos.said that Germany will not substantially soften its agreements with Greece.
The new orders index in industry recorded a decline of 8.8% in June vs. –0.7% a year earlier.
- 08/21 Coca Cola HBC H1’12 results (before-market), Jumbo EGM
- 08/23 OPAP H1’12 results (after-market)
- Cypriot Banks: According to the Cypriot edition of Kathimerini, BoC and Alpha Bank are considering exchanging loan portfolios, so that Alpha takes over BoC’s loans in Greece and vice versa and that MIG)is considering taking over Cyprus Popular Bank’s Greek operations.
FTSE 20 September future:
- Support levels: 222-216-210. Resistance levels: 233-240-240.
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