EUROCORP

Financial Morning News 23/08/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 639.57 posting losses of 0.51%, in a turnover of €27.63mn.

The Eurogroup chief Mr. Jean-Claude Juncker after his meeting with the Prime Minister Mr. Antonis Samaras said that the decision on whether to grant Greece additional time to meet budget targets will be based on the findings of the troika mission and urged Greece to push through austerity cuts. Mr. Samaras warned that those who bet on a Greek exit from the euro will be disappointed, as he personally guarantees that the country will repay Germany.

The German Chancellor Angela Merkel dismissed the chances of striking a final agreement on Greece’s rescue package during upcoming talks with the Prime Minister Antonis Samaras and she added that they will wait for the report of the troika and then they will decide.

According to Reuters, the hedge funds are nibbling again at Greek government bonds, increasingly optimistic that progress in talks between Athens and international lenders will deliver a better principle payout for bondholders.

Corporate releases

  • 08/23 OPAP H1’12 results (after-market)
  • Technical

    FTSE 20 September future:

      Support levels: 228-222-216. Resistance levels: 240-246-252.

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