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Athens News Agency: News in English, 10-07-05

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

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

CONTENTS

  • [01] 'Cautious optimism' over economy
  • [02] Stocks at lowest turnover

  • [01] 'Cautious optimism' over economy

    (ANA-MPA) -- Finance Minister George Papaconstantinou on Monday expressed what he called his "cautious optimistic" over economic developments in the country, saying the economy was on the "right track" with visible first results sending a significant message to the society and markets.

    Presenting the ministry‚s report for the first half of the year, the minister said "news is generally good" over the execution of the state budget, while he sounded optimistic that economic recession in the second quarter would be around -3.0 pct (after a -2.5-pct decline in the first quarter), (ANA-MPA) and stressed that a forecast for a 4.0-pct decline in GDP this year (as envisaged in the memorandum) was excessively pessimistic. He was adamant that the government would not introduce any new austerity measures and urged citizens to remain calm and confident over economic developments. (ANA-MPA)

    [02] Stocks at lowest turnover

    Stocks eased slightly in the Athens Stock Exchange with the market recording a new record-low turnover for the year.

    The composite index eased 0.07 pct to end at 1,450.06 points, with turnover at 38.161 million euros. The Big Cap index fell 0.19 pct, the Mid Cap index rose 0.42 pct and the Small Cap index fell 1.45 pct. The Media (3.13 pct) and Utilities (2.99 pct) scored the biggest percentage gains of the day, while Chemicals (2.96 pct) and Constructions (2.08 pct) suffered losses. Broadly, decliners led advancers by 79 to 63 with another 45 issues unchanged. Haidemenos (13.48 pct), Mohlos (10 pct) and ELVE (9.09 pct) were top gainers, while Vell Group (19.81 pct), NEL (11.11 pct) and Nafpaktos Spinn Mills (9.68 pct) were top losers.


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