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Athens News Agency: News in English, 11-02-01

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

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

CONTENTS

  • [01] Credit Suisse upgrades Greek equities
  • [02] Piraeus Bank successfully completes 807-mln-euro share capital increase
  • [03] Thessaloniki opening to Israel
  • [04] ASE posts banner month 

  • [01] Credit Suisse upgrades Greek equities

    (ANA-MPA) -- Credit Suisse has upgraded Greek equities to "benchmark" from "underweight", citing cheap equity valuations and a range of supportive macroeconomic factors, according to a Reuters report on Tuesday.

    The broker pointed to a projected cyclically adjusted budget surplus in 2011; the lowest private sector debt-to-GDP ratio in Europe; an already pessimistic economic growth forecast; low leverage in Greek banks; and a good chance the maturity of Athens' EU/IMF financial aid package will be extended.

    Greece's leading share index .ATG is up 3.5 percent on Tuesday after gaining 12.7 percent last month. The index lost nearly 36 percent last year on concerns over its ability to finance itself sustainably. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [02] Piraeus Bank successfully completes 807-mln-euro share capital increase

    (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [03] Thessaloniki opening to Israel

    (ANA-MPA) -- Efforts to boost tourist arrivals from Israel are being launched by the Central Macedonia regional government and the municipality of Thessaloniki.

    Thessaloniki Mayor Yiannis Boutaris on Tuesday told the ANA-MPA that the target set is to attract more tourists and highlight the city's medieval Jewish history, while forging closer relations with the state of Israel on the economic and business levels. He also underlined that relevant issues will be discussed in a meeting scheduled for Wednesday with representatives of the city's historic Jewish community. (ANA-MPA)

    Boutaris, who is also the president of the city's tourism promotion organisation, announced that he will visit the 17th International Mediterranean Tourism Market in Tel Aviv next week and meet with the city's mayor, noting that Thessaloniki and Tel Aviv are twinned cities. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [04] ASE posts banner month

    (ANA-MPA) -- The Athens Stock Exchange was the best performer among Europes main stock markets in January, followed by the markets of Nicosia, Milan and Madrid, while it was also the best performer among the worlds 80 largest markets, with a monthly advance of 12.69 pct.

    The Greek market discounted an urgent and general solution to the Eurozones debt crisis.

    The rally began in mid-January when a Eurogroup meeting, on Jan. 17, left the door open for a significant strengthening of a European Financial Support Fund. Final decisions are likely to be taken at an EU summit in March 25, or during an urgent summit in early March. (ANA-MPA)

    Also, favourable tax changes, such as reducing a tax on non-distributed earnings from 24 pct to 20 pct and replacing a 40-pct tax on distributed earnings with a 25-pct withholding tax, contributed to the positive climate on the Athens bourse. (ANA-MPA)

    The Big Cap index rose 11.70 pct in January, the Mid Cap index was up 8.4 pct and the Small Cap index ended 12.3 pct up. The markets capitalization grew by 7.792 billion euros to 62.727 billion euros. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form


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