Financial Morning News 25/09/2012


The General Index in Athens Stock Exchange (ASE) closed at 754.48 posting losses of 2.75%, in a turnover of €47.82mn.

The IMF’s managing director Ms. Christine Lagarde said that the IMF is “prepared to be flexible” and said both growth and austerity are needed to put an end to a crisis which will next month again force the IMF to cut its global growth forecasts. The IMF dropped the broadest of hints that it would give Greece more time to implement its hard-line cuts program.

The German Finance Ministry Spokesman Martin Kotthaus declined to comment on reports of a widening gap in the funding need for Greece that could require additional financing. The German government has no reliable data to make any assessment and needs to wait for the troika report.

Corporate Impacts

  • Folli Follie:It said that it is close to selling the controlling stake in its local duty free operations to Dufry, a Switzerland-based global travel retailer.
  • ELPE, MOH: According to a draft IMF report seen by the Wall Street Journal, the lack of competition in Greece’s fuel market is costing consumers hundreds of millions of euros.
  • Technical

    FTSE 20 December future:

      Support levels: 268-262-256. Resistance levels: 282-290-296.


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