Financial Morning News 28/01/2013


The General Index in Athens Stock Exchange (ASE) closed at 1,014.53 posting profits of 2.74%, in a turnover of €69.24mn.

The Greek Prime Minister Mr. Antonis Samaras will visit Qatar to discuss investment possibilities in Greece, including stakes in Greek state-owned companies and participation in the capital increase of the Greek banks.

The head of the IMF’s program in Greece Mr. Poul Thomsen said that failure to improve tax collection this year would result in further cuts to pensions and wages.

The ECB board member Mr. Joerg Asmussen said that Greece is two-thirds of the way to completing its fiscal consolidation. The reduction in unit labour costs, the shrinking of the current account deficit and an increase in exports as signs that reforms were having a positive impact.

Corporate Impacts

  • Cypriot banks: Fitch downgraded the government bond rating by two notches to ‘B’ with a negative outlook. It estimates that the cost of bailing out all of banks to be €10bn, so the country will need a bailout package of roughly €17bn. This would push up Cyprus debt to 140% of GDP in 2013.
  • Technical

    FTSE 20 December future:

      Support levels: 342-336-330. Resistance levels: 353-358-364.


    The information that EUROCORP (henceforth the “Company”) provides via the web page, can be used only for informative aims and not for commercial, investment or other purposes. They cannot be considered as offer, advice, or proposal for purchase or sale of securities issued by companies that are reported in the web page of the Company, or as prompt on the realisation of any form of investments. The Company is not by any chance accountable for commercial or investment decisions that will be taken based on this information.

    The information emanates from sources that are available in public and are generally considered reliable. The Company overwhelm each possible effort for the verification of the validity of this information. Nevertheless, the Company is not committed as for the precision, plenitude and safety of information and consequently no responsibility arises for the company from the use of this information.

    The use of web page is under the exclusive responsibility of each user, who accepts that the information and services, are provided “as such” and “depending on the availability”, without any guarantee of the Company, indicatively reported the guarantees of satisfactory quality or appropriateness for concrete aims.

    Get Adobe ReaderYou will need Adobe Reader to open the files. If you do not have it already, you may download it from Adobe’s website by clicking the icon on the right.

Cannot retrieve