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Athens News Agency: News in English, 10-02-23

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

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

CONTENTS

  • [01] PM briefed on progress of Stability-Growth Program
  • [02] Fitch cuts rating on Greece's four largest banks
  • [03] Stocks end 1.77% down

  • [01] PM briefed on progress of Stability-Growth Program

    (ANA-MPA) -- Prime Minister George Papandreou on Tuesday was briefed by Finance Minister George Papaconstantinou on the progress made in implementing the Greek government's now closely watched Stability and Growth Programme (SGP).

    Emerging from the meeting, Papaconstantinou again reiterated that the government was determined to do everything necessary in order to achieve the programme's targets, stressing that the goal of reducing the public deficit by four percentage points in 2010 was "non-negotiable".

    Moreover, the FinMin was again asked if the government intended to take additional measures, to which he responded that any decisions will be announced after Greece has concluded discussions with its European partners. In the meantime, he said talks with European Commission inspectors currently in the country were focused on achieving the SGP targets and possible problems that might arise in this effort.

    He added said that Greece was currently on a positive course in terms of implementing the budget and keeping spending in check, while discussions with Community officials are focused on what is termed as 'dangers' and the government was trying to ensure that its policy had convinced its EU partners.

    [02] Fitch cuts rating on Greece's four largest banks

    (ANA-MPA) -- Fitch, the international credit rating agency, on Tuesday said it was downgrading the ratings of Greeceās four largest banks while it was keeping the outlook negative, signaling further downgrades in the future.

    (ANA-MPA)

    [03] Stocks end 1.77% down

    Stocks ended significantly lower in the Athens Stock Exchange on Tuesday, ending a three-day rally of prices. The composite index of the market fell 1.77 pct to end at 1,922.69 points, with turnover remaining a low 158.725 million euros. The FTSE 20 index fell 2.40 pct, the FTSE 40 index ended 1.38 pct lower and the FTSE 80 index eased 0.72 pct.

    The Food (3.48 pct) and Insurance (1.73 pct) sectors scored gains, while Telecoms (5.81 pct) and Utilities (4.40 pct) suffered the heaviest percentage losses of the day. Hellenic Fish Farming (9.09 pct), Elfico (7.78 pct), FHL Mermeren (7.76 pct) and Alma Atermon (7.69 pct) were top gainers, while Karamolegos (9.78 pct), Medicon Hellas (9.77 pct), Karelias (9.60 pct) and Praxitelio (9.30 pct) were top losers. Broadly, decliners led advancers by 114 to 55 with another 55 issues unchanged.


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