EUROCORP

Financial Morning News 24/08/2012

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 629.69 posting losses of 1.54%, in a turnover of €26.45mn.

The Prime Minister Mr. Antonis Samaras said that a Greek exit from the euro zone would be devastating for the country and could harm Europe and lead to social problems. Mr. Samaras is scheduled to meet with the German Chancellor Angela Merkel today and travels to Paris tomorrow for talks with the French President Mr. Francois Hollande. The Chancellor Angela Merkel and the President Francois Hollande met yesterday to discuss how to deal with Greece. They put the pressure firmly on Greece to keep pursuing painful reforms and they are awaiting the troika report.

The Germany’s Finance Minster Mr. Wolfgang Schaeuble said that more money and time for Greece will not solve the problems it currently faces.

The Finnish European Affairs Minister Mr. Alexander Stubb warned against what he described as an attempt to erect a Berlin Wall separating northern Europe from the debt-laden south. He added that he was convinced that Greece would remain in the eurozone, and that Finland will not lose any money in its loans to Athens.

Corporate Impacts

  • It announced H1’12 net income of €109mn (-25%) in line with estimates (€110.1mn). The volumes dropped by 2% to €1.01bn cases while sales rose 1% to €3.43bn (est: €3.42bn). The company reiterated its guidance for free cash flow generation and investments of €1.45bn in the 2012-2014 period.
  • Technical

    FTSE 20 September future:

      Support levels: 224-218-210. Resistance levels: 236-242-250.

    Disclaimer

    The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, 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 eurocorp.gr 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.

Error Page

GlobalSoft Perquote Server 1.0.2.9

    Error 404:   

    The page requested not found!