On Tuesday, the Athens Stock Exchange closes higher after the Council of euro zone Finance ministers approved the disbursement of January’s bailout loan tranche to Greece, which is worth 9.2 billion euros. The banking sector will accept 7.2 billion euros and remaining 2 billion euros will go to state. Meanwhile, the Greek Bank reliance on the European Central Bank liquidity was at 19.3 billion euros at the end of December from 76.2 billion euros a year earlier.
ELA reliance extended by the Bank of Greece was at 101.9 billion euros from 52 billion euros at the end of December 2011. Bank of Greece reports FY net profit of 318.6 million euros vs 96.6 million euros while bank will propose gross dividend of 0.67 euro per share vs 0.83 euro per share on 2011 earnings.
In the meeting between Ministers and representatives of the Asset Development Fund that held yesterday, the Prime Minister asked for the acceleration of the privatization procedures of the state-controlled assets. The PM asked that the procedure for OPAP and DEPA/DESFA will be completed within the first quarter, post that the three assets represent c/ 80% of the targeted proceeds for 2013 (EUR2.5bn in total of which EUR0.1bn in Q1, EUR1.0bn in Q2 and EUR1.4bn in Q4).
“The intraday volatility during yesterday’s session and unsuccessful effort to retain the market highs may be an indication of the imminent correction,”Beta Securities said.
Some major blue chips (PPC, HTO, OPAP etc) potentially consolidate to their new multi-month highs profit taking might not be easily absorbed. Today Beta expects that a typical corrective session after a four positive signs in a row.
while, on the board the General Index closes 0.74% higher at 982.91. And the turnover was at 23.05 million euros.