Athens News Agency: News in English, 00-05-08

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

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

CONTENTS

[01] Greece-EU-Euro Zone

[02] Soccer-Greek First Division-Results

[03] Foreign Exchange Rates-Tuesday

[04] Shepherd - Bludgeoned - Karpathos

[05] OTE-Management Change-Deregulation

[06] Weather Forecast-Tuesday

[07] Agrometoha-convertible bonds

[08] Wage negotiations-third round

[09] Maillis Group-1st quarter results

[10] Consumer price index-April figures

[11] ADEX-close

[12] ASE-close

[01] Greece-EU-Euro Zone

National Economy and Finance Minister Yiannos Papantoniou said on Monday that his European Union counterparts unanimously welcomed endorsement by the EU's executive Commission of Greece's bid to join the 11-member euro zone.

Papantoniou was speaking after separate meetings on the sidelines of a regular EU finance ministers' meeting in Brussels.

Last week, the Commission released a report recommending Greece's entry into the euro area on the country's self-appointed target date of January 1, 2001.

A final decision will be taken by EU leaders at a summit in Portugal on June 19-20.

[02] Soccer-Greek First Division-Results

Olympiakos Piraeus maintained its four-point lead over arch rival Panathinaikos on Monday with three games left before the end of the Greek first division soccer season.

Results of Greek first division soccer matches played on Sunday and Monday:

Kalamata-Ionikos Piraeus 2-0

Trikala-Kavala 3-1

Xanthi-Iraklis Thessaloniki 3-0

Ethnikos Astir Athens-Panahaiki Patras 2-2

OFI Iraklion-Paniliakos Pyrgos 3-2

AEK Athens-Apollon Athens 3-0

PAOK Thessaloniki-Panionios Athens 2-0

Aris Thessaloniki-Olympiakos Piraeus 0-1

Panathinaikos-Proodeftiki 3-1

Standings, points after 31 rounds:

Olympiakos 83, Panathinaikos 79, OFI 60, AEK 57, Aris, PAOK 46, Panionios 44, Iraklis 43, Xanthi 41, Kalamata, 38, Ionikos 37, Panahaiki 36, Ethnikos Astir, 35, Paniliakos 34, Kavala 30, Proodeftiki 25, Apollon 24, Trikala 21.

[03] Foreign Exchange Rates-Tuesday

Following are foreign exchange rates for commercial banks released by the central bank for the next working day.

Tuesday's rates (buying)

Euro 333.441

U.S. dollar 372.774

German mark 170.486

[04] Shepherd - Bludgeoned - Karpathos

A 87-year-old shepherd on the remote SE Aegean island of Karpathos was bludgeoned to death by a fellow shepherd on Monday allegedly over a long-standing dispute over farmland.

Authorities said the 62-year-old suspect apparently used a shepherds crook to repeatedly strike Antonis Anastasiadis over the head and body, following their argument outside the village of Spoa. Shepherd Theoharis Meneakis is also accused of severely injuring the victims 62-year-old wife, Maria, with the same object.

Anastasiadis later died at a local hospital while his wife was listed in serious condition.

Authorities were searching at presstime for the suspect.

Karpathos is part of the Dodecanese chain, lying between Rhodes and Crete.

[05] OTE-Management Change-Deregulation

The government announced on Monday that it was not considering the flotation of more than 49 percent of the state-run telecoms utility, in presenting the companys new top management duo.

Recently appointed Transport and Communications Minister Christos Verelis also said the government holds the telecoms markets EU-mandated deregulation as a top priority, through a revamped institutional framework.

[06] Weather Forecast-Tuesday

Sunny weather is forecast throughout the country on Tuesday, turning to scattered cloud on the mainland from late afternoon.

[07] Agrometoha-convertible bonds

Greece's finance ministry launches a public offering of a three-year convertible bond issue on Tuesday, paying a tax-free annual coupon of 6.60 percent.

The new bonds, called "Agrometoha", could be converted to shares in Agricultural Bank of Greece during the bank's flotation on the Athens bourse.

Offer price was set at 82.55 drachmas per security of a nominal value of 100 drachmas.

The convertible bonds issue will be offered to domestic investors, small and institutional, from May 9-12.

[08] Wage negotiations-third round

Greek workers and employers concluded a third round of wage negotiations on Monday unable to bridge their differences on wage increases and implementing a 35-hour week.

GSEE's, Greece's largest workers union umbrella, chairman Christos Polyzogopoulos said progress was made on side issues, but differences remained over wage increases and implementing a 35-hour working week.

Employers insist on a proposal for a wage increase deal ranging from 2.5-3.5 percent for the new two years, both rejected by GSEE.

Iason Stratos, Hellenic Industries Union chairman, said employers' proposals were based on the criterion of sustainability and competitiveness of the Greek economy.

He said talk of a 35-hour week in Greece was premature because there was no successful model yet in any other European state.

[09] Maillis Group-1st quarter results

Maillis Group on Monday reported that its consolidated sales totalled 14.6 billion drachmas in the first quarter of 2000 from 6.7 billion in the same period last year, a jump of 117 percent.

Group pre-tax profits increased 29 percent to 1.7 billion drachmas, from 1.3 billion last year.

A company statement said that due to a delay in a share capital increase plan and listing of its subsidiary Stratech on the Athens bourse, Maillis has financed its recent acquisitions and its investment programme through short-term banking borrowing, a development that hit first quarter profits.

[10] Consumer price index-April figures

Greece's consumer price inflation dropped to 2.6 percent in April compared with the same month last year, down from 3.1 percent in March, the National Statistics Service said on Monday.

The consumer price index rose 0.5 percent in April from the previous month, recording its smaller monthly increase in the last two years (1.0 percent in April 1999 and 1.6 percent in April 1998).

April's year-on-year figure was also smaller compared with rises of 2.8 pct and 5.3 pct in the same months of 1999 and 1998, respectively.

The NSS attributed the rise in the CPI to a 3.0 percent increase in hotel-restaurant prices and a 1.3 percent rise in goods and services.

[11] ADEX-close

Derivatives prices ended higher on the Athens Derivatives Exchange on Monday reflecting gains in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40. Turnover was a moderate 9.1 billion drachmas and volume 2,726 contracts.

A total of 1,143 futures contracts were traded on the FTSE/ASE 20 index, with a turnover of 5.4 billion drachmas. The May expiring contract ended at 2,467 points, the June at 2,467.50, the July at 2,482.25 and the September contract at 2,522 points.

A total of 1,583 futures contracts were traded on the FTSE/ASE 40 index, worth 3.7 billion drachmas. The May expiring contract ended at 592 points, the June at 587.50 and the July contract at 585.75 points.

[12] ASE-close

Equity prices ended substantially higher on the Athens Stock Exchange on Monday reflecting improving climate among investors and rising turnover in the market.

Dealers said buying interest focused on smaller and medium capitalisation stocks.

The general index ended at 4,475.06 points, up 1.32 percent, but off the day's highs of 4,534.23 points. Turnover was an improved 155 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 1.28 percent to end at 2,498.36 and the FTSE/ASE 40 index jumped 2.47 percent to 616.57 points.

The parallel market index for smaller capitalisation stocks ended at 808.02 points, up 3.28 percent.

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