Athens News Agency: News in English, 01-08-20

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

CONTENTS

[01] Foreign exchange rates - Tuesday

[02] Athens 2004 - Projects - Budget

[03] Papastratos shows higher profit in first half

[04] Weather Forecast: Sunny on Tuesday

[05] Greek stocks end flat in thin trade

[01] Foreign exchange rates - Tuesday

Indicative buying rates

U.S. dollar 369.456

German mark 172.829

French franc 051.531

Pound sterling 534.007

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 45.397

Swedish kroner 35.870

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 306.788

Swiss franc 222.581

Norwegian kroner 041.662

Cyprus pound 588.799

Canadian dollar 238.971

Australian dollar 197.159

[02] Athens 2004 - Projects - Budget

The sum of 1.2 trillion drachmas (roughly $3.24 billion) has been earmarked for Athens 2004-related construction projects over the 2001-2004 period in the state's "public investments programme", the national economy ministry announced on Monday.

The figure accounts for some 80 percent of the total budget for Olympics-related works namely, 260 individual projects and 95 studies. For 2001 alone, up to 215 billion drachmas has been approved, according to the ministry.

The ministry also said the government projects an added 2 percent increase in GDP from the construction of Olympic projects and related activities, with an even bigger influence on the economy for 2003 and 2004.

[03] Papastratos shows higher profit in first half

Papastratos SA, an Athens-quoted cigarette manufacturer, posted net pre-tax profits of 5.9 billion drachmas in the first half, up from 5.2 billion drachmas in the same period a year earlier, it said in a statement on Monday.

Consolidated turnover totalled 50.8 billion drachmas, up 5.1 percent on the first half of 2000, the statement said.

The company's subsidiary in Romania reported that its sales had doubled in the first half, which may mean that the firm will post a profit for the first time this year, according to management.

Papastratos Ukraine again reported a lower than expected volume of sales.

In Greece, the volume of sales rose by 6.3 percent in the first half versus the same period of last year, the statement said.

[04] Weather Forecast: Sunny on Tuesday

Sunshine is forecast in all parts of the country on Tuesday with scattered cloud in the central and northern mainland from evening that may lead to storms on high ground. Winds northerly, light to moderate. On the northern mainland, temperatures will range from 18C to 35C; on the rest of the mainland from 20C to 37C; and in the islands from 22C to 33C. In Athens, the weather will be sunny, with temperatures between 24C and 37C. Mostly sunny in Thessaloniki, with a storm likely from evening. Temperatures from 23C to 35C.

[05] Greek stocks end flat in thin trade

Equity prices ended the first trading session of the week mixed to lower with the general index holding above the 2,680-point support level helped by selective buying in bank stocks.

Shares in the construction and IT sector scored gains, while the publishing and telecoms sectors suffered the heaviest losses.

The general index ended 0.23 percent lower at 2,687.05 points, off the day's lows of 2,672.10 points, with turnover a low 84.10 million euros, or 28.66 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 1,498.60 points, off 0.03 percent, the FTSE/ASE 40 index fell 0.04 percent to 309.60 points, and the FTSE/ASE SMALLCAP 80 index ended at 895.63 points, down 0.40 percent.

The parallel market index for smaller capitalisation stocks ended at 262.93 percent, off 0.37 percent.

Broadly, decliners led advancers by 190 to 110 with another 50 issues unchanged.

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