Financial Morning News 27/12/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,112.08 posting losses of 1.05%, in a turnover of €243.92mn.

The budget’s 2.7-billion-euro primary surplus for the first 11 months of the year was maintained. Both revenues and expenditure are within the target, bringing ever closer the achievement of a primary surplus for the whole of 2013, which would allow the government greater leverage in negotiations with its international creditors. Tax revenues amounted to €39.5bn, beating the target by €8mn, while expenditure amounted to €39.2bn against an 11-month target for €39.7bn.

Corporate Impacts

  • Eurobank Properties:The company announced the sale of one of its assets that is based in Ukraine tor €3.3mn, which entailed capital gains of €280k given the price of its acquisition. In other news, the company acquired three logistics units at Aspropyrgos for €17mn.
  • Cypriot Banks:The IMF warned that Cyprus’s efforts to extricate itself from its massive debt could weigh on output for the next decade, in a review in which it said Cyprus was well on track in its economic adjustment program.
  • Technical

    FTSE 25 January future:

      Support levels: 365-360-356. Resistance levels: 380-388-394.

    General Index:

      Support levels: 1,100-1,080-1,050. Resistance levels: 1,140-1,170-1,186.


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