Athens News Agency: News in English, 03-11-21

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

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

CONTENTS

[01] Weather Forecast: Mostly fine on Saturday

[02] Foreign Exchange Rates: Monday

[03] Greek stocks end week 2.13 percent down

[04] Greek weekly economic review

[01] Weather Forecast: Mostly fine on Saturday

Sunshine is forecast in all parts of the country with early morning mist. The west will also see scattered cloud and showers. Winds variable, light. Temperatures are to remain high for the time of year, with a minimum of 11C and maximum of 20C in Athens; and in Thessaloniki, 6C to 18C.

[02] Foreign Exchange Rates: Monday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.199

Pound sterling 0.703

Danish kroner 7.496

Swedish kroner 9.034

Japanese yen 130.4

Swiss franc 1.558

Norwegian kroner 8.227

Cyprus pound 0.588

Canadian dollar 1.567

Australian dollar 1.658

[03] Greek stocks end week 2.13 percent down

Greek stocks ended the last trading session of the week moderately higher on Friday with sentiment in the Athens Stock Exchange improving in line with a gradual recover in international markets in the wake of a new terrorist attack in Turkey on Wednesday.

The general index ended 0.54 percent higher at 2,117.39 points. Turnover was a moderate 102.9 million euros. The general index ended the week with a net loss of 2.13 percent.

Most sector indices ended higher, with the IT Solution, IT and Cement sectors scoring the biggest percentage gains of the day (2.89 percent, 1.01 percent and 0.82 percent, respectively), while the Textile (0.64 percent), Insurance (0.29 percent) and the Holding (0.22 percent) sectors suffered the heaviest percentage losses.

The FTSE/ASE 20 index ended 0.64 percent higher, the FTSE/ASE MID 40 index rose 0.50 percent and the FTSE/ASE SmallCap 80 index rose 0.49 percent.

Broadly, advancers led decliners by 178 to 105 with another 73 issues unchanged.

[04] Greek weekly economic review

The Greek economy will grow with an annual rate of 4.2 percent in 2004 from 4.0 percent this year, unemployment will fall to 8.0 percent of the workforce (from 9.0 percent this year), while productivity will grow by 2.5 percent and real workers' income will rise by 3.4 percent next year, according to the 2004 budget submitted to parliament this week. The budget also envisages a 7.0 percent rise in investments next year, and rises of 5.7 percent in 2005 and 5.5 percent in 2006. Exports of goods and services is projected to rise by 6.7 percent next year, by 5.6 percent in 2005 and 5.3 percent in 2006, while inflation is expected to ease to 3.0 percent in 2004, to 2.8 percent in 2005 and 2.6 percent in 2006.

In other headline news this week:

Enviroment, Town Planning and Public Works Minister, Mrs Vasso Papandreou, launched a campaign to remove thousands of outdoor advertisement boards in Athens, other Greek cities and in the country's national road network.

Economy and Finance Minister Nikos Christodoulakis announced the government's intention to place up to 2.5 percent in National Bank's equity capital owned by the Greek state. The placement will be made with the country's pension funds outside the stock market. After completion of the sale, the Greek state's equity holding in National Bank would be reduced to 5.0 percent from 7.5 percent currently, while pension funds would own around 20 percent of the bank's equity capital.

Greece's current account deficit widened by 41.8 percent in September further worsening the nine-month shortfall to 5.019 billion euros from 4.544 billion euros in the same period last year. The current account deficit rose 10.4 percent in the January-September period compared with the corresponding period in 2002, the Bank of Greece said. The disappointing figures mainly reflected a 7.8 percent drop in tourist foreign exchange inflows and a 10 percent drop in community funds' inflows over the same period.

Emporiki Bank, in cooperation with Sofinco, a subsidiary of Credit Agricole, launched Emporiki Credicom, a new bank aimed to offer consumer loans through the car dealer network.

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