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Athens News Agency: Daily News Bulletin in English, 12-09-05

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

Wednesday, 5 September 2012 Issue No: 4166

CONTENTS

  • [01] Schaeuble meets Stournaras, rules out relaxation of bailout conditions
  • [02] PM to meet Van Rompuy, ECB president in coming week
  • [03] Main opposition party leader requests meeting with Rompuy
  • [04] TAP pipeline consortium holds meeting with foreign minister
  • [05] Tsipras criticises plan to shift part of broadcaster's fees to RES sector
  • [06] PASOK leader's letter urges banks to ease plight of households, businesses struggling in crisis
  • [07] Kammenos sends letter to PM, party leaders on factfinding committee on subjection to memorandum
  • [08] Defence Minister Panagiotopoulos on armed forces' wage cuts
  • [09] Judges, prosecutors planning protest over pay cuts on Wednesday
  • [10] Bucharest decision on accession talks with Skopje still applies, NATO Sec-Gen says
  • [11] Efforts against corruption starting to yield results, Public Administration General Inspector reports
  • [12] Former minister testifies on Roumeliotis allegations
  • [13] Another 10 firms eyed in money laundering case involving Tsohatzopoulos
  • [14] Ecumenical Patriarch wraps up 4-day visit to western Crete
  • [15] Corinth municipality calls for removal of illegal immigrants from city's army camp
  • [16] Greece raises 1.37 bln euros form T-bill auction
  • [17] Average interest rate on deposits and loans fell in July
  • [18] Additional policy interventions needed to achieve public debt target, KEPE says
  • [19] German federal Deputy Labour Minister visits Rhodes
  • [20] Environment ministry signs order implementing twin Votanikos-Alexandras Avenue redevelopment project
  • [21] Tourism minister holds meeting with Athens mayor on tourist promotion of Athens
  • [22] Interamerican reports higher earnings, lower turnover in H1
  • [23] Eurobank Securities most active securities firm in Aug.
  • [24] ASE to delete shares of Sciens Holdings
  • [25] Stocks end at 4-month highs
  • [26] Greek bond market closing report
  • [27] ADEX closing report
  • [28] Foreign Exchange rates - Wednesday
  • [29] Four dead in car accident
  • [30] Wife questioned in priest's road-side homicide
  • [31] Thessaloniki murder case reportedly solved
  • [32] Event in Athens for Armenian orphans of Nagorno-Karabakh conflict
  • [33] Illegal migrants intrecepted near isle of Symi
  • [34] Three wildfires on Evia
  • [35] The Tuesday edition of Athens' dailies at a glance.

  • [01] Schaeuble meets Stournaras, rules out relaxation of bailout conditions

    BERLIN (AMNA - F. Karaviti)

    German Finance Minister Wolfgang Schaeuble once again repeated that Greece must fully meet its obligations under the terms of bailout loans during a meeting with visiting Greek Finance Minister Yannis Stournaras here on Tuesday, a German finance ministry statement said.

    The same announcement also stressed that decisions concerning future assistance to Greece under the bailout programme will be taken after a crucial report on Greece's compliance with bailout conditions is presented by the European Central Bank, European Commission and International Monetary Fund (IMF) troika.

    The meeting took place in a "friendly and cooperative atmosphere," the statement said, with Stournaras briefing Schaeuble on Greece's progress in meeting its obligations under the second bailout programme.

    "The implementation of fiscal and structural measures is being assessed at this time by members of the troika. Current plans assume that the report can be presented in October," the German finance ministry said. It said that a decision to disburse further financial aid to Greece will be taken after the troika presents its report and will hinge on Greece fully meeting its obligations.

    Stournaras began his visit to Berlin on Tuesday with a meeting with German Foreign Minister Guido Westerwelle, as talks expectedly focused on the eurozone crisis, the punishing recession in Greece and German efforts to deal with the unprecedented economic downturn in Europe after the post-war period.

    Stournaras' visit and high-level talks come after Prime Minister Antonis Samaras visit to Berlin last week week, contacts viewed as "jump-starting" relations between Athens and Berlin on vis-a-vis the eurozone crisis, especially as it affects Greece's economy and ability to service its debt.

    [02] PM to meet Van Rompuy, ECB president in coming week

    A meeting with European Council President Herman Van Rompuy on Friday and that will European Central Bank President Mario Draghi next Tuesday will wrap up the first round of talks between Greek Prime Minister Antonis Samaras and European leaders and officials since the Greek premier's election, aiming to reverse the climate surrounding Greece abroad.

    The meeting with Van Rompuy will take place in Athens, while that with Draghi will be held in Frankfurt at 3:00 p.m.

    Prior to these meetings, Samaras is also scheduled to receive Germany's federal labour and social affairs ministry official Hans-Joachim Fuchtel at his offices' at 6:00 p.m. on Wednesday, for a meeting that will include Greek Interior Minister Evripidis Stylianidis.

    According to government sources, the prime minister will emphasise out the heavy sacrifices demanded of the Greek citizens in recent years and the fact that the Greek economy is now in its fifth consecutive year of recession.

    [03] Main opposition party leader requests meeting with Rompuy

    The office of Radical Left Coalition (SYRIZA) Parliamentary Group president Alexis Tsipras, in light of the visit to Athens by European Council president Herman Van Rompuy on September 7, has communicated with the office of the European Council's president and requested a meeting between the two men.

    In another development, the Political Secretariat of SYN delt during its session on Tuesday with the preparation of its president Alexis Tsipras's two-day visit to Thessaloniki on September 15 and 16.

    On the evening of September 15, Tsipras will be addressing producer classes and will be having many meetings with trade union and social organisations.

    He will be presenting his plan for the country's reconstruction and is expected to outline his positions on a series of issues preoccupying Greek society, such as immigration, education, health, etc.

    Lastly, Tsipras will be holding a press conference on Sunday September 16.

    [04] TAP pipeline consortium holds meeting with foreign minister

    A delegation from the TransAdriatic Pipeline consortium led by TAP Managing Director Kjetil Tungland on Tuesday had a meeting with Foreign Minister Dimitris Avramopoulos to discuss plans for the construction of the natural gas pipeline.

    In a statement issued afterward, TAP noted that the good and productive cooperation with the Greek government and authorities and said that Avramopoulos had expressed the government's commitment to TAP's implementation.

    Tungland noted his satisfaction with the results of the meeting and said that the cooperation between the different sides involved will continue in order to select the best possible choice for Europe and Greece in terms of a southern natgas corridor.

    The TAP pipeline is planned to begin at the Greek-Turkish border and arrive in Italy via Greece and Albania. The consortium exploiting the natural gas fields in Azerbaijan will have to choose between TAP and the competing Nabucco pipeline next year, deciding which pipeline will be supplied to transport gas to the EU.

    [05] Tsipras criticises plan to shift part of broadcaster's fees to RES sector

    SYRIZA leader Alexis Tsipras on Tuesday charged that the government is "plundering public property", in criticising a plan to shift a portion of the duty slapped every month on consumers' electricity bills and handed over to the state broadcasting network (ERT).

    Tsipras referred to an "invasion of public television", speaking after a meeting with the representatives of the union of employees at the broadcaster (Pospert).

    "ERT is competitive to private media because it is pluralistic and offers reliable information. By losing these characteristics, and from the plundering of its reserves, by giving 25 percent of its earnings (power bill duties) to the renewable sources of energy sector, ERT will become losses instead of a surplus..."

    "Those who have the impression that by turning ERT in a low-quality broadcaster will be able to control the flow of information and change the people's opinion ... are responsible, because ERT must remain a source of varying information; an oasis in the information desert that prevails in our country," Tsipras said.

    [06] PASOK leader's letter urges banks to ease plight of households, businesses struggling in crisis

    PASOK leader Evangelos Venizelos on Tuesday sent a letter to the head of the Union of Greek Banks George Zannias, in which he once again raises the issues of easing loan repayment terms to help overstretched borrowers and necessary adjustments in the rules of the credit profiling company Tiresias.

    Venizelos referred to the need for new settlements for past loans to help households and businesses cope in a period of recession, lower incomes and reduced liquidity. He also noted the need to modify the rules of the credit profiling company so that debtors and business people that took out loans in good faith but ran into difficulties as a result of the crisis were not excluded from using the banking system.

    "I am certain that banks, which are being recapitalised and supported by the Greek state, have complete awareness of their institutional role in the national economy and therefore in the support of households and businesses," Venizelos added, asking that Zannias notify the banking union's members of his letter as a means of applying pressure to speed up the necessary initiatives.

    [07] Kammenos sends letter to PM, party leaders on factfinding committee on subjection to memorandum

    Independent Greeks party president Panos Kammenos sent a letter on Tuesday night to Prime Minister Antonis Samaras and the leaders of the Parliamentary parties, calling on them to support his party's demand for the creation of a factfinding committee on Greece's subjection to the memorandum in May 2010.

    Kammenos has already sent a relevant letter to all the deputies of the parties, calling for their support for the creation of a factfinding committee.

    The collection of 60 signatures is necessary for the issue to be discussed at the plenum. Kammenos's request has been accepted so far by the deputies of the Golden Dawn (Chryssi Avghi) party.

    [08] Defence Minister Panagiotopoulos on armed forces' wage cuts

    Defence Minister Panos Panagiotopoulos on Tuesday said he has confidence in the prime minister and the two political party leaders backing the government in terms of their handling of armed forces' salary rates.

    Panagiotopoulos made the statement in response to a discussion taking place in the appropriate parliamentary committee on the ratification of a legislative act concerning the time of the armed forces' promotions and retirements.

    The defence minister stated that "the country is waging an economic war it did not declare and we have to be victorious".

    He underlined that the country's deterrent ability should remain strong despite the cutbacks to guarantee an environment of maximal security.

    [09] Judges, prosecutors planning protest over pay cuts on Wednesday

    Six of the country's unions of justices and public prosecutors have decided to participate in a demonstration taking place outside Greece's Supreme Court on Wednesday to protest against planned pay cuts for judicial officials at all levels.

    This will be followed by further protests at 12:30 p.m. on September 17, the first day of the judicial 'year', to be held outside the appeals courts in Athens, Thessaloniki and elsewhere throughout the country and which will coincide with the interruption of all court proceedings and the closure of all public prosecutors' offices.

    If the planned pay cuts go ahead, justices intend to escalate action by adjourning all hearings in criminal courts between 11:00 a.m. and 3:00 p.m. for a period of time to be decided at a future date, begin a 'work-to-rule' strike for public prosecutors and take their grievances to European and Greek courts, as well as submit mass resignations.

    Among others, justices note that the Greek Constitution provides for a special payment regime for judges and that any further cuts in their salaries would be unconstitutional.

    [10] Bucharest decision on accession talks with Skopje still applies, NATO Sec-Gen says

    BRUSSELS (AMNA - V. Demiris)

    NATO Secretary General Anders Fogh Rasmussen on Tuesday repeated that the start of accession negotiations with the Former Yugoslav Republic of Macedonia (FYROM) will require the consent of all NATO member-states, during a meeting in Brussels with FYROM President Georgi Ivanov.

    Rasmussen stressed that NATO's position on the issue remained the decision reached at the 2008 NATO summit in Bucharest, at which the Alliance had indicated its willingness to begin accession talks with FYROM as soon as a mutually acceptable solution was found in the name dispute with Greece.

    He emphasised that this was a decision supported by all NATO member-states and called on the leadership of Greece and FYROM to make every effort to find a solution in the framework of the process underway at the United Nations.

    Ivanov later met European Commissioner for enlargement Stefan Fule, who also stressed the fundamental importance of regional cooperation and good neighbour relations, including on the issue of finding a mutually acceptable solution in the name dispute. He said the European Commission supports the contacts between the two sides and the efforts underway at the UN.

    [11] Efforts against corruption starting to yield results, Public Administration General Inspector reports

    "Corruption in the public sector did not grow but, on the contrary, it is being uncovered and ultimately punished because inspection mechanisms have started to work. We are on the right track," Public Administration General Inspector Leandros Rakintzis said on Tuesday when presenting his annual report to Greek President Karolos Papoulias.

    Rakintzis also referred to certain authorities that have been taken away from him, such as, the right to challenge decisions issued by disciplinary councils based on the argument that the new councils to be set up will be comprised of court justices. Rakintzis said characteristically "we are making two steps forward and one step back".

    [12] Former minister testifies on Roumeliotis allegations

    Former high-ranking PASOK minister Gerassimos Arsenis on Tuesday provided testimony in a high-profile investigation into allegations by Greece's one-time representative to the IMF, Panagiotis Roumeliotis, who last month charged that the IMF-tailored economic programme commenced by the previous Papandreou government was "condemned" from the start.

    Arsenis said afterward that Roumeliotis, in a face-a-face discussion, told him that a "climate of skepticism" prevailed within the IMF as regards the Greek bailout programme. "Given that I have dealt personally with the debt issue, we exchanged opinions with Roumeliotis," Arsenis said.

    Asked whether Roumeliotis briefed the then Papandreou government on the programme's problematic course, Arsenis said "that issue is institutional, I could not intervene, but when asked, I conveyed my opinion."

    The next witness scheduled to testify before prosecutors is former PASOK minister Vasso Papandreou.

    On Monday, Arsenis' wife, Louka Katseli, yet another high-ranking former PASOK minister, spoke to prosecutors over the case.

    [13] Another 10 firms eyed in money laundering case involving Tsohatzopoulos

    New witnesses, and possible defendents, will be called to testify before examining magistrates investigating the money laundering case against former PASOK minister Akis Tsohatzopoulos, based on new evidence according to which, 10 more companies were involved in the transfer of large amounts of kickback money.

    Specifically, roughly 8.7 million euros was transferred through those companies, which were allegedly used in laundering cash from kickbacks.

    The sum in question was deposited in a Swiss bank account by the representative of the Drumilan offshorte company in Greece, already under investigation for his role in the purchase of the Russian anti-aircraft missile system TOR M1.

    The final recipient of remittances, which originated from the bank account in question and which were transferred to nine companies, was the Italian firm "S.D.G S.r.I", whose legal representative was entrepreneur Giorgos Sahpatzidis, one of the defendants in the case already in custody pending trial.

    The examining magistrates believe the real beneficiary of the company in question was the former minister, as was in the case of other companies, including offshore ones.

    According to reports, confiscated evidence from Sahpatzidis' residence and Tsohatzopoulos' office include documents that link them directly with the companies in question, which were used to launder cash from alleged kickbacks until 2008.

    Based on available evidence, Tsohatzopoulos' wife has also deposited two remittances to the Italian company account.

    The investigation into Tsohatzopoulos' money laundering case is expected to be completed before the end of autumn.

    [14] Ecumenical Patriarch wraps up 4-day visit to western Crete

    Ecumenical Patriarch Bartholomew on Tuesday wrapped up a four-day visit to the western part of Crete.

    On Tuesday morning, the Ecumenical Patriarch visited the town of Kissamos to inaugurate a cultural centre and later at noon he was declared honorary professor at the Technical University of Crete.

    Bartholomew referred to the environmental protection efforts made by the Ecumenical Patriarchate, underlining the need to use new technologies that do not violate the laws of nature.

    [15] Corinth municipality calls for removal of illegal immigrants from city's army camp

    The allgroup committee created by decision of the Corinth municipal council on Tuesday once again reiterated the decision for the removal of the illegal immigrants from the Kaloyeroyiannis army camp, regarding plans to transform the camp of the 6th Infantry Regiment into an illegal immigrants detention centre.

    Issues were discussed during a session chaired by the city's mayor and it was unanimously agreed that the migrants must leave the army camp of Corinth immediately and this place be handed over to the municipality of Corinth.

    Financial News

    [16] Greece raises 1.37 bln euros form T-bill auction

    Greece on Tuesday successfully auctioned a six-month Treasury bills issue, raising 1.37 billion euros from the market at a lower cost. The Public Debt Management Organization, in a statement, said that the interest rate of the issue was set at 4.54 pct, from 4.68 pct in the previous auction of six-month Treasury bills.

    The issue was 1.95 times oversubscribed.

    [17] Average interest rate on deposits and loans fell in July

    The average interest rate on new deposits and the corresponding rate on new loans decreased in the Greek banking system in July, the Bank of Greece said on Tuesday.

    More specifically, in July 2012, the average interest rate on overnight deposits from households remained almost unchanged at 0.47 percent, while the corresponding rate on deposits from non-financial corporations decreased by 6 basis points to 0.40 percent, the central bank said in a report. The average interest rate on deposits from households with an agreed maturity of up to 1 year, decreased by 19 basis points to 4.82 percent. The overall average interest rate on all new deposits decreased by 8 basis points to 2.86 percent.

    In the case of loans, the average interest rate on consumer loans without a defined maturity (a category which includes credit card debt, open account loans and debit balances on current accounts) decreased slightly by 5 basis points in July 2012, to 14.91 percent. The average interest rate on consumer loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year decreased significantly by 28 basis points to 7.88 percent, in July 2012, from 8.16 percent in the previous month.

    The average interest rate on corporate loans without a defined maturity also decreased by 8 basis points to 7.61 percent. Similarly, the corresponding rate on loans to sole proprietors decreased by 6 basis points to 10.21 percent. The average interest rate on corporate loans with a defined maturity at a floating rate or with an initial rate fixation period of up to one year increased by 20 basis points to 7.67 percent for loans up to 250,000 euros, whereas it decreased by 13 basis points to 6.42 percent for loans above 250,000 euros and up to 1 million euros and by 84 basis points to 5.71 percent for loans above 1 million euros.

    Finally, the average interest rate on housing loans at a floating rate or with an initial fixation period of up to one year significantly decreased by 29 basis points to 3.13 percent. The above developments had as a result the average interest rate on all new loans to households and corporations to decrease significantly, in July 2012, by 39 basis points to 5.89 percent.

    In July 2012 the overall average interest rate on outstanding amounts of all deposits increased while the corresponding rate on all loans decreased.

    In particular, in July 2012, the average interest rate on outstanding amounts of deposits from households with an agreed maturity of up to 2 years increased marginally by 2 basis points to 4.73 percent while the corresponding rate on deposits from non-financial corporations increased by 15 basis points to 4.64 percent. The average interest rate on outstanding amounts of loans with over five years' maturity decreased by 13 basis points to 3.34 percent for housing loans, by 2 basis to 4.90 percent for corporate loans and by 5 basis points to 6.21 percent for loans to sole proprietors.

    The overall average interest rate on all deposits (including overnight deposits) increased by 6 basis points to 2.86 percent, while the corresponding rate on all loans decreased by 10 basis points to 6.01 percent.

    [18] Additional policy interventions needed to achieve public debt target, KEPE says

    Gloomy prospects over economic growth combined with deviations from targets set by a Medium-term Fiscal Strategy Framework (2012-2015) - with the country's primary deficit likely to reach 1-1.5 pct in 2012 - show that a goal of cutting the Greek public debt to 120 pct of GDP by 2020 could not be achieved with additional policy interventions, the Centre for Planning and Economic Research (KEPE) said on Tuesday.

    Panagiotis Korliras (president) and Yiannis Monogios (head of fiscal and monetary policy department), in their analysis over the sustainability of the Greek public debt, stressed that achieving this goal needed additional actions, which should include a fair extension of a fiscal restructuring programme, a possible reduction of the average interest rate servicing the country's existing debt, accelerating a realistic privatizations programme and last -but not least- recapitalizing Greek banks directly from an EFSF/ESM mechanism.

    Taking in view adverse economic conditions prevailing in early 2012 and expectations of an economic recession in 2013, achieving a goal of cutting the public debt to 120 pct of GDP by 2020 depended on a combination of specific "useful" hypothesis which included -among others:

    -extending the adjustment of public cuts totaling 11.6 billion euros to four years (2013-2016),

    -a significantly lower interest rate on servicing the country's outstanding debt,

    -a significant reduction of the country's debt in 2012 on the precondition that a bank recapitalization plan will be implemented directly from the EFSF/ESM mechanism (as in the case of Spain) instead from through the country's public debt,

    -higher prospects for privatization revenues.

    This combination of hypothesis, which composite a framework of negotiations, could help the country achieve its targets by 2020, or even cutting its public debt to lower levels through achievable primary budget surpluses, KEPE said.

    [19] German federal Deputy Labour Minister visits Rhodes

    German federal Deputy Labour Minister Hans-Joachim Fuchtel, appointed to promote Greek-German local administration cooperation, on Tuesday met with local government and production sector representatives on the Dodecanese island of Rhodes.

    The German official stated that the purpose of his visit is to convey experience and know-how in specific sectors to be decided by local authorities.

    He underlined that efforts will focus on identifying the tools and procedures necessary for the implementation of projects and actions without having to face red tape obstacles.

    Fuchtel said that "we have in common the millions of German tourists who visit Greece each year, the Greeks who work or study in Germany and the German nationals who have chosen to make Greece their home."

    [20] Environment ministry signs order implementing twin Votanikos-Alexandras Avenue redevelopment project

    Environment, Energy and Climate Change Minister Evangelos Livieratos and Alternate Environment Minister Stavros Kalafatis on Tuesday signed orders for the implementation of a presidential decree approving a plan for the twin redevelopment projects on Alexandras Avenue and the Votanikos region of central Athens.

    The plan includes the construction of a new stadium for the Athens football club Panathinaikos in Elaionas and the demolition of the old Panathinaikos stadium on Alexandras Avenue to create a park and recreation area, as well an underground parking lot for 700 cars.

    The presidential decree will go into force as soon as it is published in the government gazette while supervision of the project has been assigned to the Athens municipality.

    [21] Tourism minister holds meeting with Athens mayor on tourist promotion of Athens

    Tourism Minister Olga Kefaloyianni held a meeting with Athens mayor George Kaminis on Tuesday, focusing on the tourist promotion of Athens. Reference was made during the meeting on the initiatives that are under way for the city's tourist development.

    "Athens can become a capital of Greek tourism since it possesses an inexhaustible variety of interesting elements that range from culture, ancient Greece, and reach gastronomy, the seaside front, the neighbouring excursions," the minister stressed.

    [22] Interamerican reports higher earnings, lower turnover in H1

    Interamerican, a Greek insurance group, on Tuesday said after tax earnings totaled 11.3 million euros in the first six months of 2012, while premium production totaled 223.7 million euros over the same period.

    Gross registered premiums in the general insurance category totaled 118.6 million euros in the January-June period, up 2.0 pct from the same period in 2011, in the health category, premium production totaled 49.1 million euros, down from 55.8 million euros last year, while in the life insurance category, premium production fell to 56 million euros from 67.9 million euros in 2011.

    [23] Eurobank Securities most active securities firm in Aug.

    Eurobank Securities topped the list of the most active securities firms at the Athens Stock Exchange in August, with a market share of 23.22 pct, followed by National Securities (9.24 pct), Euroxx (8.5 pct), Investment Bank of Greece (8.42 pct), Piraeus Securities (4.17 pct), Alpha Finance (3.57 pct), Credit Agricole (3.49 pct), HSBC (2.81 pct) and Dynamic Securities (2.73 pct).

    Eurobank Securities also topped the list of the most active firms in the January-August period, with a market share of 16.74 pct), followed by National Securities (12.02 pct), Investment Bank (11.97 pct), Euroxx (6.61 pct) and Piraeus Bank (5.09 pct).

    [24] ASE to delete shares of Sciens Holdings

    Greece's Capital Market Commission on Tuesday announced a decision to delete the shares of Sciens Holdings SA from the market.

    A market watchdog statement said the company's shares will be traded in the market until Friday, Sept. 7, 2012.

    The company's shares have been put in the surveillance category since April 10, 2012 after Sciens Holding reported losses more than 30 pct of its equity capital for the year 2011. Scienin Holdings submitted a request with the Capital Market Commission to delete its shares from the market on June 22, 2012.

    [25] Stocks end at 4-month highs

    Stocks ended at the highest levels since early May, with the composite index of the market surpassing the 650-mark level.

    Traders said, however, that investors remained cautious ahead of the negotiations between the government and EC-ECB-IMF troika over a new economic programe. The index rose 1.46 pct to end at 651.77 points, off the day's highs of 1.75 pct. Turnover remained a low 20.192 million euros.

    The Big Cap index rose 1.50 pct and the Mid Cap index jumped 3.31 pct. All sector indices ended higher with the Personal Products (6.31 pct), Commerce (4.30 pct) and Raw Materials (3.47 pct) scoring the biggest percentage gains. Piraeus Bank (1.57 pct) was the only blue chip to end lower, while Jumbo (6.7 pct), Cyprus Popular Bank (6.67 pct), Ellaktor (4.76 pct) and Folli Follie (4.42 pct) were top losers. Broadly, advancers led decliners by 71 to 42 with another 28 issues unchanged.

    Selman (20 pct), Attica Holdings (10.43 pct) and MIG Real Estate (10 pct) were top gainers, while 3A (20 pct), Sciens Holdings (19.82 pct) and Perseus (19.59 pct) were top losers.

    Sector indices ended as follows:

    Industrials: +2.71%

    Commercial: +4.30%

    Construction: +1.37%

    Oil & Gas: +1.13%

    Personal & Household: +6.31%

    Raw Materials: +3.47%

    Travel & Leisure: +0.66%

    Technology: +1.78%

    Telecoms: +1.13%

    Banks: +1.49%

    Food & Beverages: +1.16%

    Health: +1.12%

    Utilities: +1.74%

    Financial Services: +2.63%

    The stocks with the highest turnover were OTE, OPAP, National Bank, Foli Follie and Bank of Cyprus.

    Selected shares from the FTSE/ASE-20 index closed in euros as follows:

    Alpha Bank: 1,36

    Public Power Corp (PPC): 2,69

    HBC Coca Cola: 14,65

    Hellenic Petroleum: 5,65

    National Bank of Greece: 1,39

    EFG Eurobank Ergasias: 0,69

    OPAP: 5,55

    OTE: 2,69

    Bank of Piraeus: 0,25

    Titan: 13,05

    [26] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds shrank significantly to 20.46 pct in the domestic electronic secondary bond market on Tuesday, from 22.53 pct on Monday, with the Greek bond yielding 21.83 pct and the German Bund 1.37 pct. Turnover totaled 11 million euros, of which 10 million euros were buy orders and the remaining 1.0 0 million euros was sell order.

    In interbank markets, interest rates were mixed to lower. The 12-month rate was 0.79 pct, the six-month rate was 0.53 pct, the three-month rate 0.27 pct and the one-month rate 0.12 pct.

    [27] ADEX closing report

    The September contract on the FTSE 20 index was trading at a premium of 0.51 pct in the Athens Derivatives Exchange on Tuesday, with turnover remaining a low 3.916 million euros. Volume on the Big Cap index totaled 1,123 contracts worth 1.317 million euros, with 22,530 open positions in the market. Volume in futures contracts on equities totaled 18,565 contracts worth 2.599 million euros, with investment interest focusing on Cyprus Bank's contracts (4,547), followed by National Bank (3,141), Alpha Bank (2,144), OTE (2,857), PPC (436), OPAP (927), Piraeus Bank (1,769), Cyprus Popular Bank (634), Mytilineos (180), Viohalco (139), Ellaktor (547) and Intralot (141).

    [28] Foreign Exchange rates - Wednesday

    Reference buying rates per euro released by the European Central Bank:

    U.S. Dollar 1,28

    Pound sterling 0,8

    Danish kroner 7,56

    Swedish kroner 8,53

    Japanese yen 100,06

    Swiss franc 1,22

    Norwegian kroner 7,4

    Canadian dollar 1,26

    Australian dollar 1,25

    General News

    [29] Four dead in car accident

    Four men, all aged 20, died in a car crash in Athens overnight, after driver lost control of the vehicle, which crashed into a power pole and burst into flames. Only the driver, having been thrown out of the car during the crash, survived, and is listed in serious condition in an Athens hospital.

    [30] Wife questioned in priest's road-side homicide

    Police were questioning the wife of a 52-year-old priest murdered a day earlier at a makeshift rest stop off the Pyrgos-Kyparissia highway, in the northeastern Peloponnese.

    According to authorities, the woman, 43, and a 40-year-old man from a nearby village were being questioned in relation to the homicide and whether they knew each other before the incident.

    A shotgun-weilding suspect fired at the priest, the passenger of a car driven by his wife, after she stopped at the site.

    Police said the woman has reportedly confessed to complicity in the murder.

    [31] Thessaloniki murder case reportedly solved

    A 32-year-old drug addict reportedly confessed to murdering a 46-year-old man, also described as an addict, last May in Thessaloniki, police said on Tuesday.

    According to the suspect's testimony, the victim was killed during a drug-related dispute between them.

    The 32-year-old murder suspect accidentally fell in the hands of police last Friday when he was attacked and robbed by a gang of 15 football hooligans in eastern Thessaloniki while wearing an oppositing team's T-shirt. Police were called in and arrested seven of the assailants.

    [32] Event in Athens for Armenian orphans of Nagorno-Karabakh conflict

    The hospitality offered in the past 17 years to the children of fallen Armenians combattants during the Nagorno-Karabakh conflict was acknowledged at an event held at the Hatzikyriakio Childcare Institution in Athens on Tuesday.

    The president of the Hatzikyriakio Institution and the mayor of the island of Syros were awarded metals by the Metropolitan Bishop of the Orthodox Armenians in Greece for their initiatives in support of the orphaned Armenian children. Also, honorary distinctions were awarded to two Hatzikyriakio directors for the material and scientific assistance they provided to the Stepanakert orphanage.

    [33] Illegal migrants intrecepted near isle of Symi

    A dinghy loaded with illegal migrants was spotted early Tuesday by a coast guard patrol boat near the small Dodecanese island of Symi. A pursuit followed resulting into the sinking of the inflatable craft.

    The alleged migrant smuggler, who skippered the craft, and 37 illegal migrants were rescued and transferred to Symi.

    According to reports, a large number of illegal migrants were ferried within the last week from the opposite Turkish coast and remain on the island.

    In a separate incident early Tuesday, 16 illegals and a trafficker were arrested on Farmakonissi.

    [34] Three wildfires on Evia

    Three wildfires that erupted on Monday on large Evia island were still in progress a day later.

    The first front, which is the largest, was burning forestland at the Farkala site, northern Evia.

    Thirty-five fire engines with dozens of firefighters and aircraft were operating in the area.

    A second wildfire in Mourteri, near Kymi, is also burning forestland.

    A fire near Marmari was under partial control.

    [35] The Tuesday edition of Athens' dailies at a glance.

    Deliberations on the finalisation of an 11.5-billion-euros package of austerity measures and reactions to possible cuts in certain categories of state payrolls mostly dominated the headlines on Tuesday in Athens' newspapers.

    0

    ADESMEFTOS TYPOS: "Up to five-year bonus for civil servants' early retirement".

    AVGHI: "People in limelight with the Left."

    AVRIANI: "US companies in Greece preparing for Grexit".

    ELEFTHEROS TYPOS: "Cold shower for uniformed officers with 20-percent cut in salaries".

    ESTIA: "Populists threaten government".

    ETHNOS: "Losses in special payrolls".

    IMERISSIA: "Merkel's attack on markets".

    KATHIMERINI: "6-25 percent cut in special payrolls".

    NAFTEMPORIKI: "Four banks viable after banks' recapitalisation".

    RIZOSPASTIS: "They're imposing slavery labour".

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