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Athens News Agency: News in English, 11-03-09

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

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

CONTENTS

  • [01] Greek bond market closing report
  • [02] Samaras visits Thessaloniki
  • [03] Stocks end 1.02% higher 

  • [01] Greek bond market closing report

    (ANA-MPA) -- The yield spread between the 10-year Greek and German benchmark bonds widened sharply to 957 basis points in the Greek electronic secondary bond market on Wednesday, from 944 bps on Tuesday, with the Greek bond yielding 12.85 pct and the German Bund 3.28 pct. Turnover in the market totaled 50 million euros, of which 11 million were buy orders and the remaining 39 million euros were sell orders. The five-year benchmark bond was the most heavily traded security with a turnover of 13 million euros.

    In interbank markets, interest rates were largely unchanged. The 12-month rate was 1.95 pct, the six-month 1.49 pct, the three-month rate 1.17 pct and the one-month rate 0.902 pct.

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

    

    [02] Samaras visits Thessaloniki

    The government's ineptitude and neglect was reflected in the 'picture' seen throughout the country, main opposition New Democracy leader Antonis Samaras asserted on Wednesday during a tour of western Thessaloniki.

    Visiting local authorities and mayors in the region, he was briefed on the area's problems and took a walk down the local high street.

    Samaras said that Greece had reached a critical phase when the economic problem had become deeply social and every political party had an obligation to stand at the side of citizens. He called for the support of the unemployed, pensioners, the poor and the social classes worst hit by the crisis.

    "In the last three months we experienced a recession of the order of 6.6 percent, which hadn't seen in this country after the Second World War," he said.

    He noted that when there was a lack of income and therefore no consumption, combined with a lack of state spending or investments, then markets came to a complete standstill. "Shops are closing and the market has 'dried up' while the government does not appear to want to deal with the problem," he said.

    The present government had one and only one course, Samaras emphasised, which was the one set for it by the Memorandum.

    "It has not at all considered the possibilities that might exist even within the Memorandum, if it had negotiated for this. It is not possible to overcome the problem of your financial robustness by the 'execution' of thousands of new unemployed every day, especially when this chiefly reflects the problem for young people," ND's leader said, noting that this created a "sick psychology" and injured society's cohesion.

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

    

    [03] Stocks end 1.02% higher

    Stocks recovered on Wednesday, after Tuesdays sharp losses in the Athens Stock Exchange, helped by renewed buying interest for blue chip stocks. The composite index of the market rose 1.02 pct to end at 1,541.02 points, off the days highs of 1,556.52 points. Turnover was a low 86.264 million euros. The Big Cap index rose 1.35 pct, the Mid Cap index ended 0.07 pct up and the Small Cap index rose 1.39 pct.

    Eurobank (4.19 pct), Ellaktor (4.18 pct), Hellenic Postbank (2.57 pct) and Alpha Bank (2.35 pct) were top gainers among blue chip stocks, while MIG (1.27 pct), OPAP (0.32 pct) and Viohalco (0.25 pct) were top losers.

    Banks (2.15 pct) and Constructions (1.95 pct) scored the biggest percentage gains of the day, while Health (13.11 pct) and Commerce (0.86 pct) suffered losses. Broadly, advancers led decliners by 97 to 52 with another 50 issues unchanged.

    Sanyo Hellas (10 pct), Mohlos (10 pct) and Imperio (9.38 pct) were top gainers, while Alapis (26.09 pct), Alter (17.81 pct) and Atlantic (15.38 pct) were top losers.

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


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