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Athens News Agency: News in English, 11-06-01

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

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

CONTENTS

  • [01] Abolition/merger 75 public entities
  • [02] Greek bond market closing report
  • [03] Stocks end 1.49% lower

  • [01] Abolition/merger 75 public entities

    (ANA-MPA) -- The government on Wednesday announced that 75 public-sector agencies and organisations are to be abolished, merged or restructured in order to cut back on public spending.

    Government vice-president Theodoros Pangalos said this will lead to savings of 650 million euros, while 2.7 billion euros in subsidies each year will no longer be allocated.

    He said there were 7,000 employees currently working at these organisations and that none of them would be fired, instead they will be employed in other positions after undergoing an assessment by the independent public-sector staff selection council ASEP.

    Amongst the bodies to be merged or abolished, the government included the state broadcasting network ERT, Themis Kataskevastiki (a justice ministry-affiliated construction firm), the Hellenic Public Real Estate Corp., Hellenic Tourist Properties S.A., the Organisation for the Management of Public Materials, the School Buildings Organisation, the Public Company for the Building of Hospital Units (DEPANOM), the Hellenic Organisation for Small and Medium Enterprises and Handicrafts (EOMMEX), the National Youth Foundation (the entity that runs college campus housing and canteens), the National Agricultural Research Foundation (NAGREF) and others. (ANA-MPA)

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

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

    [02] Greek bond market closing report

    (ANA-MPA) -- The yield spread between the 10-year Greek and German benchmark bonds rose slightly to 13.31 pct in the domestic electronic secondary bond market on Wednesday, from 13.25 pct on Tuesday, with the Greek bond yielding 16.31 pct and the German Bund yielding 2.99 pct. Turnover in the market totaled 41 million euros, of which 25 million were sell orders and the remaining 16 million euros were buy orders. The five-year benchmark bond was the most heavily traded security with a turnover of 14 million euros.

    In interbank markets, interest rates were largely unchanged. The 12-month rate was 2.13 pct, the six-month rate 1.71 pct, the three-month 1.43 pct and the one-month rate 1.22 pct.

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

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

    [03] Stocks end 1.49% lower

    Stocks resumed their downward trend at the Athens Stock Exchange on Wednesday as investors took early profits following Tuesday‚s sharp advance of prices.

    The composite index of the market fell 1.49 pct to end at 1,289.99 points, after rising as much as 1.16 pct during the session. Turnover remained a heavy 127.037 million euros. The Big Cap index fell 1.52 pct, the Mid Cap index ended 1.24 pct lower and the Small Cap index eased 0.70 pct.

    MIG (3.57 pct), PPC (3.15 pct), Ellaktor (1.94 pct) and OTE (1.13 pct) were top gainers among blue chip stocks, while Cyprus Bank (5.65 pct), OPAP (4.31 pct), Coca-Cola 3E (3.31 pct) and Eurobank (2.83 pct) were top losers. The Financial Services (2.68 pct), Health (2.48 pct) and Insurance (2.04 pct) sectors scored gains, while Travel (4.20 pct), Food (3.23 pct) and Banks (1.97 pct) suffered the heaviest percentage losses of the day.

    Broadly, decliners led advancers by 75 to 56 with another 49 issues unchanged. NEL (12 pct), Aegean Airlines (11.76 pct), Fieratex (9.09 pct) and AXON Holdings (8.20 pct) were top gainers, while Attica Publications (14.81 pct), Kyriakoulis (8.51 pct), Nafpaktos Spinn Mills (8.33 pct) and ELBE (7.55 pct) were top losers.

    &copy; ANA-MPA SA. Intellectual rights and copyright belong to the ANA-MPA S.A.

    Reproduction of ANA-MPA content by visitors of this website is strictly forbidden.

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


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