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Athens News Agency: News in English, 09-05-13

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

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

CONTENTS

  • [01] Papoulias receives AEK vets
  • [02] ATE Insurance says profits up 118 pct in Q1
  • [03] Greek bond market closing report
  • [04] KKE leader calls for river's cleanup
  • [05] Focus on Thessaly waterways
  • [06] Stocks end 3.07% down on Wed.

  • [01] Papoulias receives AEK vets

    President of the Republic Karolos Papoulias on Wednesday received a 31-member delegation of the AEK Athens FC Veteran Football Players Association, who presented him a football signed by all the veteran players, a team jersey and a special plaque.

    Addressing the veterans at the presidential mansion, Papoulias underlined that "AEK sets an example as a noble football team," underlining that it was always observes "fair play" rules.

    The AEK veteran players association was founded 21 years ago.

    [02] ATE Insurance says profits up 118 pct in Q1

    ATE Insurance Group on Wednesday reported a spectacular 118.5-pct increase in its pre-tax profits to 5.9 million euros in the first quarter of the year, compared with 2.7 million euros in the corresponding period in 2008.

    Net after-tax profits totaled 4.7 million euros in the January-March period, from 1.7 million euros last year, while premium production grew 14.4 pct in the same period, sharply up compared with an average growth rate of 2.9 pct in the insurance market, to 61.2 million euros.

    Pre-tax profits totaled 5.6 million euros in the first three months, up from 2.5 million euros last year, for an increase of 124 pct. Compensation payments to customers totaled 31.4 million euros, up 15.6 pct from last year, while operating spending fell 34.3 pct to 9.4 million euros.

    The company's investment portfolio was improving and was expected to positively affect the company's net position in the current year.

    [03] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds widened further to 185 basis points in the Greek electronic secondary bond market on Wednesday, with turnover rising to 1.415 billion euros of which 665 million were buy orders and the remaining 750 million euros were sell orders.

    The 10-year benchmark bond (July 19, 2019) was the most heavily traded security with a turnover of 1.040 billion euros. The Greek bond yielded 5.20 pct and the German Bund 3.35 pct.

    In interbank markets, interest rates fell. The 12-month Euribor rate was 1.63 pct, the six-month rate 1.47 pct, the three-month rate 1.28 pct and the one-month rate 0.84 pct.

    [04] KKE leader calls for river's cleanup

    "Factories should take measures to limit pollution while, at the same time, a modern project should get underway for 100 percent clean water and air in the region," Communist Party of Greece (KKE) General Secretary Aleka Papariga stressed during a visit to the pollution-plagued Asopos River, a small body but significant stream some 60 km north of Athens.

    Papariga discussed the water pollution problem in a meeting with local authorities and environmental activists in the municipality of Inophyta, pointing out that it constitutes "major scandal".

    [05] Focus on Thessaly waterways

    Environment, Town Planning and Public Works Minister George Souflias on Wednesday toured the Lake Karla project and the Pinios River Dam project at the Girtoni site in central Greece.

    Souflias, who is elected from the Larissa region in Thessaly province, Greece's unofficial "bread basket", underlined that the completion of the two projects "is his vision", stressing that agriculture-dependent Thessaly is in dire need of greater water resources.

    As regards Lake Karla, Souflias announced the establishment of a managing authority, while referring to the Girtoni Dam he expressed certainty that the project will be completed in the first quarter of 2010. The specific dam is expected to solve urgent irrigation problems in the prefectures of Larissa and Magnesia.

    Caption: A file photo shows the Pineios River, the longest in the Thessaly province. (ANA-MPA / V. Paschali)

    [06] Stocks end 3.07% down on Wed.

    Greek stocks ended sharply lower at the Athens Stock Exchange on Wednesday as investors took profits amid a negative climate in international markets. The composite index fell 3.07 pct to end at 2,136.46 points, with turnover at 307.4 million euros of which 3.5 million euros were block trades.

    Most sectors ended lower with the Banks (6.32 pct), Raw Materials (5.71 pct) and Financial Services (5.04 pct) suffering the heaviest percentage losses of the day, while Oil (5.0 pct), Telecommunications (1.61 pct) and Utilities (0.42 pct) scored gains.

    The FTSE 20 index fell 3.76 pct, the FTSE 40 index ended 3.28 pct lower and the FTSE 80 index fell 2.17 pct. Broadly, decliners led advancers by 183 to 60 with another 30 issues unchanged.


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