Financial Morning News 23/05/2014


The General Index in Athens Stock Exchange (ASE) closed at 1,150.97 posting profits of 1.25%, in a turnover of €143.16mn.

Fitch increased Greece’s credit rating by one level to B from B-, with a stable outlook. Note that rating reviews by Moody’s (Caa3) and S&P (B-) are scheduled for August 1 and September 12, respectively.

The nominee of the EU’s Christian Democratic parties for the top job at the European Commission Mr. Jean-Claude Juncker said that a breakdown of Greece’s conservative-led coalition government would be a highly dangerous development.

The current account deficit shrank in March to €44mn from €1.24bn in March 2013. Tourism revenues rose to €195mn from €151mn in 2013.

Corporate Impacts

    • Bank of Cyprus: The bank sold loans extended to Serbian real estate company Robne Kuce Beograd to Piraeus Bank. The realized accounting gain from the transaction was €27mn, with a positive impact of about €46mn or 0.2% on the group’s core Tier 1 capital ratio.


FTSE 25 June future:

        Support levels: 365-358-352. Resistance levels: 376-384-390.

General Index:

      Support levels: 1,130-1,100-1,080. Resistance levels: 1,185-1,210-1,230.


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