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Athens News Agency: News in English, 11-03-29

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

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

CONTENTS

  • [01] Cabinet meeting on social issues, employment
  • [02] S&P cuts Greece's credit rating to BB-
  • [03] Stocks end 1.97% down 

  • [01] Cabinet meeting on social issues, employment

    (ANA-MPA) -- A wide-ranging Cabinet meeting was convened on Tuesday under the chairmanship of Prime Minister George Papandreou, as the meeting focused on so-called "social issues", particularly efforts to sustain and boost employment.

    Related initiatives, such as continuing adult vocational training and retraining schemes -- as buffers to the spectre of unemployment -- were discussed. In terms of implementation, responsibilities of individual ministries and cooperation amongst ministries was discussed. Priorities were also set.

    Several top ministers along with the head of the Social Insurances Foundation (IKA) and the Manpower Employment Organisation (OAED) participated in the meeting.

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

    

    [02] S&P cuts Greece's credit rating to BB-

    (ANA-MPA) -- Standard & Poors on Tuesday downgraded Greeces credit rating by two notches, from BB+ to BB-, and maintained a negative outlook for the country. In an announcement, the credit rating agency said the results of an EU Summit confirmed its estimates that a restructuring of a public debt was possible precondition for a countrys borrowing form a permanent European Stabilisation Mechanism, which will replace the current European Financial Stability Fund from July 2013. (ANA-MPA)

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

    

    [03] Stocks end 1.97% down

    Stock ended sharply lower at the Athens Stock Exchange on Tuesday, hit by a new downgrading of Greeces credit rating by Standard & Poors. The composite index of the market ended 1.97 pct down to 1,579.76 points, with turnover remaining a low 111.06 million euros.

    The Big Cap index dropped 2.44 pct, the Mid Cap index ended 2.37 pct lower and the Small Cap index fell 2.91 pct. The Insurance (1.54 pct), Chemicals (1.26 pct) and Oils (0.03 pct) sectors scored gains, while the Financial Services (4.91 pct), Health (4.56 pct), Commerce (3.85 pct) and Banks (3.66 pct) sectors suffered the heaviest percentage losses. PPC (0.75 pct), Jumbo (0.55 pct) and Motor Oil (0.33 pct) were top gainers among blue chip stocks, while MIG (5.88 pct), Piraeus Bank (5.77 pct), ATEbank (5.13 pct) and Ellaktor (5.40 pct) were top losers.

    Broadly, decliners led advancers by 122 to 41 with another 46 issues unchanged. PC Systems (20 pct), AXON Holdings (10.53 pct) and Karelias (9.89 pct) were top gainers, while Elfico (18.92 pct), Imperio (12.82 pct) and Rilken (9.92 pct) were top losers.

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


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