Athens News Agency: News in English, 04-03-02

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

CONTENTS

[01] Greece of the cheapest car markets in EU, report

[02] Greeks avoid high-risk investments, report says

[03] Hellenic Railways announces new train services

[04] Foreign Exchange Rates: Wednesday

[05] Weather Forecast: Rainy on Wednesday

[06] Athens Bourse Close: Stocks nose down in bid to consolidate

[01] Greece of the cheapest car markets in EU, report

Factory prices of new cars (pre-tax) in Greece fell 0.6 percent in

November 2003 compared with May and continue to be among the lowest prices in the European Union, a report by European Commisison on new car prices said on Tuesday.

The report, by the EU's executive, said that Germany and Austria

recorded the highest prices in the Eurozone, while Greece, Denmark and Finland recorded the lowest prices. In Germany, a total of 38 car models were offered at the highest prices in the Eurozone, while another 23 car models were offered at prices 20-39 percent higher compared with the cheapest national market.

In Austria, nine car models were offered at prices 20 percent higher

compared with the cheapest Eurozone market, while in Greece, the report said that one in three car models were offered at the lowest prices in the Eurozone. The report included 18 European and eight Japanese car manufacturers with 91 of their most popular models.

[02] Greeks avoid high-risk investments, report says

Greeks prefer short-term saving deposits and avoid high-risk

investments, according to an ''Investment Barometer'', a report offering informations over investment trends in Europe and the US.

The report, compiled by GfK Market Analysis since 1996, also showed

that Greeks, generally, were lagging behind other Europeans in investments.

The report was based on answers by 1,250 men and women, aged 18-64.

Short-term bank deposits, life insurance and stock shares are the most popular investment tools for both West-Europeans and Greeks, although the report noted some differences. Greeks are investing in smaller rates compared with their West European counterparts.

The percentage of Greeks investing in stocks remained at 9-10 percent since spring 2003, reflecting a trend in the Greek bourse, compared with a 16 percent of Europeans and a 50 percent rate in the US.

In Greece, a 49 percent of respondents said they planned to invest

less or much less money, while a 36 percent said it would save the same money in the next 12 months and another 15 percent believed they would invest more money in the future. The European rates were 38 percent, 45 percent and 15 percent, respectively.

[03] Hellenic Railways announces new train services

Hellenic Railways (OSE) on Tuesday said it would start daily services with its new double twin-railcar Desiro Classic in the Athens-Volos-Kalambaka rail line.

The Desiro Classic is a new railcar recently acquired by OSE as part of its programme to modernise its services and achieve significant reduction in travel times.

Meanwhile, Hellenic Railways said it was extending for one more day a deadline offering discounts up to 30 percent to tickets for passengers travelling to vote around the country. The discount is valid from Friday to Tuesday, March 9.

[04] Foreign Exchange Rates: Wednesday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.250

Pound sterling 0.672

Danish kroner 7.512

Swedish kroner 9.322

Japanese yen 137.0

Swiss franc 1.596

Norwegian kroner 8.754

Cyprus pound 0.590

Canadian dollar 1.675

Australian dollar 1.620

[05] Weather Forecast: Rainy on Wednesday

Overcast weather and showers are forecast in all parts of the country, with light snowfall on high ground in the north and probably storms in the southwest. Winds variable, strong to gale force. Temperatures in Athens 09C to 16C and in Thessaloniki from 06C to 11C.

[06] Athens Bourse Close: Stocks nose down in bid to consolidate

The Athens bourse finished lower on Tuesday in a bid to consolidate, traders said.

The general share index shed 0.04 per cent to end at 2,447.16 points. Turnover was 149.4 million euros.

The FTSE/ASE-20 index for blue chip and heavily traded stocks ended 0.09 per cent up; the FTSE/ASE-40 for medium capitalisation paper 0.24 per cent lower; and the FTSE/ASE-80 for small cap equities finished flat.

Of stocks traded, declines led advances at 176 to 117 with 69 issues remaining unchanged.

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