GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 924.47 posting significant profits of 2.94%, in a turnover of €36.61mn.
The German Finance Minister Mr. Wolfgang Schaeuble said that he expects a future aid package for Greece to be much smaller than the existing rescue deals. At the same time, the Dutch Finance Minister Mr. Jeroen Dijsselbloem agreed with Mr. Schaeuble that Greece will likely need a new bailout next year.
The Finance Minister Mr. Yannis Stournaras said that if there is need for further support to Greece, it will be in the order of about €10bn, or much smaller than the previous programs.
The German Chancellor Ms. Angela Merkel warned a Greek debt write-down could spark a “domino effect of uncertainty” and scare off investors in the eurozone.
The IMF admitted in a new working paper that it overestimated the impact of austerity in Greece and the prospects for growth in the recession-hit country.
Corporate Impacts
- Eurobank: EGM
Technical
FTSE 25 September future:
- Support levels: 312-306-300. Resistance levels: 325-330-336.
General Index:
- Support levels: 910-884-861. Resistance levels: 940-960-980.
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