Greek Morning News 10/4/2012


The General Index closed at 707.60 posting profits of 0.52% in a turnover of €22.92mn. The banking index recorded profits of 2.64%, breaking the twelve consecutive declining meetings which recorded a cumulative loss of 33.72%.

The chief of the IMF, Christine Lagarde said that it is not yet certain that Greece will avoid bankruptcy or a forced exit from the EU and euro zone.

The German Finance Minister Wolfgang Schaeuble said that Greece suffers from it΄s own mistakes Germany does not want to occupy anyone.

The date of the upcoming general elections is due to be announced this week, most likely tomorrow.

The industrial production fell 8.3% on the year in February, after declining 5% on the year in January (ELSTAT).

According to an Austrian survey, Greece ranks last among 14 European countries in attracting new enterprises.

According to PDMA, Greece will sell €1bn of 26-week T-bills today (previous rate: 4.8%).

Corporate Impacts

  • Piraeus Bank: The sale of the Egyptian arm of Greece΄s Piraeus Bank, valued at over $200mn has attracted five potential bidders from the Middle East and North Africa region (Reuters).
  • Eurobank: It reached deal on sale of its Turkish unit to Kuwait’s Burgan Bank for TRY641mn in cash.
  • ELPE, MOH: According to Iranian state television, Iran has blocked oil sales to the two Greek companies after they failed to make payment.


  • FTSE 20 June future: Support levels: 260-255-250. Resistance levels: 278-288-296.


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.