Athens News Agency: News in English, 00-12-28

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

CONTENTS

[01] Archbishop-Thessaloniki-Visit

[02] CORRECTED-FOREIGN EXCHANGE-FRIDAY'S RATES

[03] FOREIGN EXCHANGE - FRIDAY'S RATES

[04] Foreign Exchange Market-Fixing

[05] Secondary Bond Market-Close

[06] Greece-Serbia-Elections-FM Papandreou

[07] Sarandis-2000 results

[08] Greece-road accidents

[09] Themeliodomi SA-takeover

[10] ASE-close

[01] Archbishop-Thessaloniki-Visit

Archbishop of Athens and All Greece Christodoulos began a visit to Thessaloniki, northern Greece on Thursday night to attend a three-day jubilee organised by the Holy Synod and the Holy Metropolis of Thessaloniki.

In arrival statements, Christodoulos said that Ecumenical Patriarch Vartholomeos "is the patriarch of our birthright" and that nobody can dispute him.

Archbishop Christodoulos said that Orthodoxy was proceeding united and assured that any problems which may have arisen recently in relations between the Church of Greece and the Fanar would be resolved soon.

Christodoulos also condemned the refusal by a clergyman at the northern Athens suburb of Psychico not to give holy communion to two children and said that measures would be taken against him.

[02] CORRECTED-FOREIGN EXCHANGE-FRIDAY'S RATES

Indicative rates released by the central bank for the next working day.

Friday's rates (buying)

Euro 338.024

U.S. dollar 364.838

German mark 172.829

French franc 051.531

Pound sterling 542.723

Irish punt 429.202

Belgian franc 008.379

Luxembourg franc 008.379

Dutch guilder 153.389

Italian lira (100) 017.457

Austrian schilling 024.565

Danish kroner 045.322

Swedish kroner 038.172

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 318.085

Swiss franc 221.786

Norwegian kroner 041.009

Cyprus pound 588.970

Canadian dollar 241.532

Australian dollar 202.368

[03] FOREIGN EXCHANGE - FRIDAY'S RATES

Indicative rates released by the central bank for the next working day.

Friday's rates (buying)

Euro 338.024

U.S. dollar 366.594

German mark 172.829

French franc 051.531

Pound sterling 542.862

Irish punt 429.202

Belgian franc 008.379

Luxembourg franc 008.379

Dutch guilder 153.389

Italian lira (100) 017.457

Austrian schilling 024.565

Danish kroner 045.315

Swedish kroner 038.625

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 326.715

Swiss franc 221.851

Norwegian kroner 041.247

Cyprus pound 589.744

Canadian dollar 241.155

Australian dollar 204.099

[04] Foreign Exchange Market-Fixing

The drachma on Thursday was flat against the euro at its central euro-zone parity and up versus the US dollar in the domestic foreign exchange market.

At the central bank's daily fixing, the euro was set at 340.750 drachmas for the fourth straight session.

Greece enters the euro zone on January 1, 2001.

Also at the fix, the dollar was set at 367.780 drachmas from 368.870 drachmas a trading day earlier.

[05] Secondary Bond Market-Close

Bond prices in the domestic secondary market on Thursday finished lower in scant trade, for a third straight session.

The Greek benchmark 10-year bond showed a yield of 5.494 percent from 5.459 percent in the previous session.

The Greek paper's yield spread over German bunds was 58 basis points from 61 basis points a day earlier.

Turnover through the central bank's electronic system totalled 12 billion drachmas from 14 billion drachmas in the session before.

Sell orders accounted for the bulk of trade.

[06] Greece-Serbia-Elections-FM Papandreou

Greek Foreign Minister George Papandreou on Thursday congratulated Zoran Djindjic, leader of the Democratic Opposition Alliance (DOS), for his recent victory in Serbias election.

?I would like to warmly congratulate you on your election victory. I believe that your victory consolidates democracy in your country and reaffirms the will of the Serbian people to move forward with changes, which are necessary to secure the course toward the European family,? he said.

?In the implementation of your difficult task, Greece and the Greek government will be by your side offering their full and friendly support,? he concluded.

[07] Sarandis-2000 results

Sarandis ABEE said on Thursday it expects this year's sales to total 58 billion drachmas, up 35 percent from 1999.

These forecasts did not include results from Athinea SA and its activities in children clothes. It will included, however, results from its recently acquired Zeta SA, in a deal worth 14.9 billion drachmas.

EBITDA (pre-financial and amortisation) profits are expected to exceed 8.0 billion drachmas in 2000, and operating results to exceed 7.0 billion drachmas, up around 80 percent from 1999.

The group's net pre-tax profits are expected to total 4.7-5.3 billion drachmas, down from 5.9 billion last year, reflecting higher extraordinary charges.

[08] Greece-road accidents

Greece's National Economy Ministry on Thursday announced an international tender to find an underwriter to draft and implement a communications strategy on road safety issues.

The move envisages in changing drivers' attitudes and contributing in reducing road accidents.

The contract will have 12 months duration and interested parties are expected to submit bids by February 16.

National Economy Deputy Minister Christos Pahtas said reducing road accidents must be a national priority.

More than 2,000 Greeks lose their lives and around 30,000 other are seriously injured in an average of 20,000 road accidents each year in the country.

[09] Themeliodomi SA-takeover

Themeliodomi shareholders on Thursday approved the takeover of a 50 percent equity stake in Synthesis ATEBE, a construction company based in Thessaloniki, for an undisclosed sum.

An extraordinary general shareholders' meeting also decided to mandate the company's board to negotiate more takeover deals ahead of the approval by the parliament of a draft legislation promoted by the government aiming for the restructuring of the country's construction sector.

Themeliodomi Group now includes eight construction companies, six based in Greece and the other two abroad, and four consulting, industrial and development companies.

Themeliodomi also examines the takeover of a construction company in Bulgaria.

[10] ASE-close

Equity prices ended lower on Thursday, extending their downward trend for the eighth consecutive session on the Athens Stock Exchange.

Traders said investors remained sidelined ahead of the end of the year ignoring the latest bold move by the Bank of Greece to cut interest rates by one percentage point on Wednesday.

Smaller capitalisation stocks came under strong pressure, while investment and industrial stocks ended higher.

The general index ended 0.47 percent lower at 3,377.34 points, with turnover at 94.84 billion drachmas of which 66 billion accounted for block trades.

The FTSE/ASE 20 index for blue chip and heavy traded stocks eased 0.57 percent to 1,945.98 points, and the FTSE/ASE 40 index fell 0.99 percent to 394.24 points.

The parallel market index for smaller capitalisation stocks ended 3.03 percent lower at 322.52 points.

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