GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 995.37 posting losses of 0.79%, in a turnover of €46.88mn.
The head of the BoG Mr. George Provopoulos said that the Greek government must step up structural reforms if it is to guarantee economic recovery, adding that he expects the recession to slow progressively and the first positive growth rates of GDP in 2014. Moreover, he called for fewer and stronger banks, adding that a further return of deposits and successful completion of a recapitalization plan will help the banking system to return gradually to the international capital markets.
The trade balance deficit fell by 17.2% last year on the back of a reduction in imports and increase in exports (ELSTAT).
Corporate Impacts
- OTE:The stock will probably be added to Eurostoxx 600, after the today rebalancing of the index.
- Fourlis:Sweden’s IKEA recalled a batch of meatballs distributed to 13 European countries among Greece and Cyprus after Czech food inspectors found traces of horsemeat in the Products.
Technical
FTSE 25 March future:
- Support levels: 326-318-312. Resistance levels: 338-344-350.
General Index:
- Support levels: 990-970-960. Resistance levels: 1,014-1,030-1,050
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