GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 893.77 posting profits of 1.45%, in a low turnover of €31.87mn.
According to a Document by the German Finance Ministry, signed by Deputy Finance Minister Mr. Steffen Kampeter, Greece still needs €77.7bn additional financing needs (Bild).
Corporate Impacts
- PPC: The company posted pretax profits for H1’12 of €170.2mn from €52.5mn, despite the increase of CO2 expense by approximately €106mn, the reduction of the energy mix cost by €146mn (-8.1%), attributed to a large extent to hydro generation which more than doubled. The total revenues amounted to €2.95bn, from €2.94bn. The management sees for 2013 revenues from energy sales of €5.9bln, total Revenues of €6.1bln and EBITDA margin of 16.5%-17%.
- NBG: The bank reported a profit of €344mn in H1’12 (est: €125mn), helped by its Turkish subsidiary Finansbank (net profits of €332mn) lower funding costs and provisions for bad debt. The loan-loss provisions fell to €853mn vs. €1.2bn last year.
- OPAP: The group announced a 73.9% drop in net profits for the H1’13, to €67.3mn. The sales fell 15.1% to €1.744bn, mostly because of the severe economic downturn and one-off factors that hit first-quarter results. The EBITDA decreased by 70% to €103.3mn.
- Hellenic Petroleum: The group announced Q2’13 adjusted EBITDA at €21mn vs. €197mn in Q2’12, driven by historically low hydro-cracking margins and challenging industry conditions, especially in the Med. ELPE reduced its net debt to €1.8bn and doubled its exports, as Elefsina overcomes start-up and initial optimisation issues to reach 95% utilisation in 2Q13. The net income affected by reporting of higher depreciation and finance costs due to Elefsina start–up.
Technical
FTSE 25 September future:
- Support levels: 300-292-286. Resistance levels: 312-318-324.
General Index:
- Support levels: 870-861-850. Resistance levels: 915-940-960.
Disclaimer
The information that EUROCORP (henceforth the “Company”) provides via the web page eurocorp.gr, 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 eurocorp.gr 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.
You 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.