Athens News Agency: News in English, 00-02-16

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

CONTENTS

[01] Greek Trade Fair-FYROM

[02] Weather forecast - Thursday

[03] Papantoniou-Oil

[04] ADEX-close

[05] ASE-close

[01] Greek Trade Fair-FYROM

About 100 companies are to take part in a four-day Greek company trade fair that begins on Thursday in Skopje, the capital of the Former Yugoslav Republic of Macedonia.

The event, the third of its kind, is organised by the Thessaloniki International Trade Fair.

Macedonia-Thrace Minister Yiannis Magriotis is to launch the event.

Among sectors represented are foodstuffs and beverages, packaging materials, plastic irrigation pipes, apparel, aluminium products, building materials and services.

[02] Weather forecast - Thursday

Overcast, rainy weather is forecast throughout the country on Thursday.

Storms are expected in the west, and snow on high ground in the north and centre. Winds south-southwesterly, strong to very strong, turning gale force at sea.

Temperatures in the north will range from -1C to 11C; in the rest of mainland Greece and the Ionian from 2C to 16C; and in the Aegean islands from 6C to 18C.

Cloudy in Athens, turning to rain later in the day, with temperatures ranging from 6C to 16C. Same in Thessaloniki with temperatures between 1C and 10C. Both cities may see storms in the evening

[03] Papantoniou-Oil

National Economy and Finance Minister Yiannos Papantoniou said on Wednesday the United States and the European Union are pressuring oil-producing countries to restrain oil prices, adding that the passing of winter will decrease the demand for oil.

Speaking to the Antenna radio station, Papantoniou said for the time being there are no fears of a crisis, since it does not appear that the high level of oil prices will continue.

"No increase, provided it lasts for a few days, creates conditions for a crisis," he said.

Commenting on the repercussions for the Greek economy, Papantoniou said the inflation criterion for euro zone entry would be fulfilled since the European Union's other member-states are also facing the negative impact of the pressure on inflation.

[04] ADEX-close

Futures contract prices came under pressure to end lower on the Athens Derivatives Exchange (ADEX) on Wednesday, following sharp losses in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

A total of 910 contracts were traded on the FTSE/ASE 20 index, worth 5.2 billion drachmas. The February contract ended at 2,890, the March at 2,923, the April at 2,945 and the June contract at 2,955 points.

A total of 766 contracts were traded on the FTSE/ASE 40 index, worth 2.6 billion drachmas. The February contract ended at 893.5 points, the March at 910 and the April at 920 points.

[05] ASE-close

Equity prices remained under heavy pressure for the third consecutive session this week to end sharply lower on Wednesday.

Smaller capitalisation stocks were particularly hit while banks and investments resisted the wider market's fall.

The general index ended 1.57 percent lower at 5,328.49 points. Turnover was a low 202 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 1.01 percent to 2,875.02 points and the FTSE/ASE MID 40 index ended at 878.54 points, off 3.10 percent.

The parallel market index for smaller capitalisation stocks ended at 1,421.88 points, off 5.80 percent.

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