EUROCORP

Financial Morning News 26/03/2014

GREEK FINANCIAL MARKET

The General Index in Athens Stock Exchange (ASE) closed at 1,329.20 posting losses of 0.11%, in a turnover of €76.41mn.

According to the 2014 budget, the Greek state achieved a €2.06bn primary surplus in the first two from a target of €1.04bn, despite a €580mn revenues shortfall.

The current account deficit narrowed in January and stood at €295mn from €314mn a year earlier.

According to WSJ, Greece is able to call its own tune, as the things are starting to look better for Greece.

Corporate Impacts

  • Mytilineos, METKA, Motor Oil, Intralot, MLS: FY’13 results
  • Greek Banks: The government plans to submit to the parliament the bill for the recapitalization of the Greek banks this week.
  • Alpha Bank: The bank has received significant investor interest for 1,846,153,846 new ordinary shares at a price of €0.65 per share (7% discount). The shares will be placed with qualified investors, outside Greece.
  • BoC: The Chief Executive Mr. ohn Hourican said that €225mn sale of its Ukrainian bank is on track to happen within weeks.
  • Technical

    FTSE 25 April future:

      Support levels: 422-416-410. Resistance levels: 435-442-448.

    General Index:

      Support levels: 1,320-1,300-1,280. Resistance levels: 1,350-1,380-1,400.

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