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Athens News Agency: News in English, 09-08-06

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

From: The Athens News Agency at <>


  • [01] Greek economic sentiment index posts slight decline
  • [02] Foreign investors' share in Athens bourse up in July
  • [03] Stocks up on Thursday

  • [01] Greek economic sentiment index posts slight decline

    Greece's economic sentiment index recorded a slight decline in July as opposed to the upward trend prevailing in most other European countries for three consecutive months, a report by the Institute for Economic and Industrial Research (IOBE) stated on Thursday.

    This development, according to IOBE, can be seen as a mild adjustment, most likely impermanent, following a notable recovery of June's expectations, as the index is being stabilised at levels higher than the year's current average (51 units). In Greece, the index dropped in July to 57.2 units, from 59 units in June, the year's second highest level.

    Changes in the economy are marginal as the sentiment is deteriorating mostly due to the decline in the consumer confidence index.

    In industry, production forecasts follow upward trend; in services the positive business forecasts, as regards demand, are being weakened, whereas in retail commerce forecasts on current sales record notable improvement. In construction, the forecasts remain negative compared to June, while in terms of consumer confidence, the forecasts as regards the consumers' intention to save money record a decline for the next 12-month period following the same trend with the rest Euro-zone countries. However, households appear to be less pessimistic in July over the country's economic situation.

    [02] Foreign investors' share in Athens bourse up in July

    Foreign investorsā participation in the capitalisation of the Greek stock market increased slightly to 48.13 pct in July, up from 48.0 pct in June, mainly on the back of the transfer of 5 pct of OTE's shares from the Greek state to Deutsche Telekom, official figures showed on Thursday.

    [03] Stocks up on Thursday

    Stocks ended up on Thursday at the Athens Stock Exchange with the composite index of the market gaining 0.45 pct to end at 2,401.07 points. Turnover was a low 212.6 million euros, of which 11.7 million were block trades.

    Sector indices moved mostly downward with Foods-Beverages (2.79 pct) and Travel-Recreation (1.35 pct) and Utilities (1.32 pct) posting the biggest gains. The biggest losers of the day were Heath (11.23 pct), Telecoms (4.67 pct) and Insurances (1.87 pct).

    The FTSE 20 index ended 0.61 pct up, the FTSE 40 index lost 1.00 pct and the FTSE 80 fell 1.05 percent.

    From the stocks moved, 79 ended up, 139 declined and 42 remained unchanged.

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