GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 996.82 posting losses of 0.84%, in a turnover of €49.92mn.
- Greek Banks: According to press reports, banks probably will obtain an extension to their end-April deadline to raise fresh capital. The extension is needed because NBG and Eurobank are merging. In other news, Hellenic Postbank’s voluntary redundancy plan of about 700 employees must be completed as soon as possible.
- Cypriot Banks: The President Mr. Dimitris Christofias said that Russia is ready to help Cyprus by joining the EU in putting together a rescue package for the country. We remind that Cyprus has received a €2.5bn loan from Russia and has formally asked to extend repayment of the loan from 2016 to 2021.
- OTE: The Company issued €700mn of five-year bonds paying a 7.875% coupon. The bid-to-cover ratio was 2.7 times.
FTSE 20 March future:
- Support levels: 332-326-320. Resistance levels: 342-346-352.
- Support levels: 990-975-955. Resistance levels: 1,014-1,030-1,050.
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