Financial Morning News 22/05/2012


The General Index in Athens Stock Exchange (ASE) closed at 544.56 posting losses of 1.01% in a turnover of €27.85mn.

The Finance Minister Mr. Giorgios Zanias said that the caretaker government will step up attempts to curb tax evasion and meet revenue targets.

The former ECB Executive Board Member Mr. Lorenzo Bini Smaghi said that Greece’s structural problems may take up to 10 years to fix and the country may need assistance from the World Bank to make needed adjustments (Bloomberg).

The ECB Executive Board member, Mr. Joerg Asmussen reaffirmed that the ECB is working to keep Greece in the Eurozone, stressing that the country needs to stick to the agreed consolidation and reform program.

The Poland΄s finance minister, Jacek Rostowski said that a properly functioning firewall must be in place to prevent contagion in Europe well in advance of a potential Greek exit from the euro (Reuters).

The Industrial output declined in March by 4.3% y-o-y vs. a 7.7% annual increase posted a year earlier (ELSTAT).

Corporate Impacts

  • EXAE: Franklin Templeton Investments reduced its stake to 4.36% from 5.02% previously.
  • Technical

      • FTSE 20 June future: Support levels: 192-186-180. Resistance levels: 207-216-222.


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