Athens News Agency: News in English, 00-05-17

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

CONTENTS

[01] Falcon Accident-Report-Charges

[02] Weather Forecast-Thursday

[03] Foreign Exchange Rates-Thursday

[04] Greece - Cyprus - Military exercises

[05] Delta Holdings-Marfin-acquisition

[06] ADEX-close

[07] PPC-resignations

[08] ASE-close

[01] Falcon Accident-Report-Charges

An Athens prosecutor filed unintentional manslaughter charges on Wednesday against the two pilots that commanded the Greek PMs corporate jet on a fateful flight that witnessed the death of seven passengers last year, including the countrys alternate foreign minister.

The charges follow the tabling of an experts report ordered by the Athens prosecutors office, in which ?human error? is ruled as the cause of the accident and not mechanical failure. Specifically, the two pilots are cited as flying at an excessive speed (336 knots instead of a manufacturers prescribed speed of 260 knots) and of disregarding directions issued by air traffic controllers from Bucharests airport.

[02] Weather Forecast-Thursday

Sunshine is forecast throughout the country on Thursday, turning cloudy on the mainland late in the afternoon.

[03] Foreign Exchange Rates-Thursday

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

Thursdays rates (buying)

Euro 333.897

U.S. dollar 373.438

[04] Greece - Cyprus - Military exercises

NICOSIA (ANA G. Leonidas) Two Hellenic Air Force F-16s flew over parts of free Cyprus on Wednesday as part of joint military exercises between Greek units and the island republics National Guard.

According to sources, the two warplanes flew in the vicinity of a military air base near the town of Paphos, while during their return flight towards Greece they flew past Turkish fighters within the Nicosia FIR, although no interference was reported.

The exercise, which also includes the participation of ground forces and naval vessels, began in the morning and was fully underway by mid-afternoon before it is scheduled conclusion on Thursday. Additional flights by Greek warplanes are set for Thursday as well.

[05] Delta Holdings-Marfin-acquisition

Delta Holdings and Marfin Group on Wednesday announced they had acquired 82.289 percent of shares in Papafilis, a flour mills listed company.

The deal, due to be officially signed, envisages that Delta Holdings will acquire a 75 percent stake and Marfin Group the remaining 7.289 percent of shares.

Delta Holdings aims to expand activities in new food and drink sectors to maintain its leadership in the sector and to increase its market capitalisation.

[06] ADEX-close

Derivatives prices remained on a positive course on the Athens Derivatives Exchange on Wednesday despite a mixed apperance by the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

Turnover shrunk to 8.5 billion drachmas in volume of 2,572 contracts.

A total of 883 futures contracts were traded on the FTSE/ASE 20 index, worth 4.3 billion drachmas. The May expiring contract ended at 2,572 points, the June at 2,565.75, the July at 2,569 and the September contract at 2,582 points.

A total of 1,689 futures contract were traded on the FTSE/ASE 40 index, worth 4.2 billion drachmas. The May expiring contract ended at 674.25 points, the June at 653.75 and the July contract at 655 points.

[07] PPC-resignations

Public Power Corporation's, Greece's electricity utility, chairman George Birdimiris on Wednesday formally submitted his resignation to Development Minister Nikos Christodoulakis.

Mr. Birdimiris had previously expressed his wish to resign from the post.

He was appointed as PPC's chairman in 1993 and his presence in the country's biggest enterprise was linked with a successful investment and restructuring programme.

A letter of resignation was also submitted by PPC's general manager, Andrianos Papathanasiou.

[08] ASE-close

Equity prices ended lower on the Athens Stock Exchange on Wednesday as a wave of profit-taking reversed a five-day rally which pushed the general index 5.74 percent higher.

Dealers said that comments made by Morgan Stanley's vice-chairman that the US investment bank would not discuss the upgrading of the Greek market during its regular meeting on Wednesday, hurt sentiment in the market.

These comments pushed the general index 1.62 percent lower temporarily, only to recover later in the day to end 0.13 percent down at 4,703.61 points. Dealers said the market remained confident over the prospects of the Greek bourse's listing among the world's maturing capital markets sometime this year.

Turnover was a moderate 187 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.43 percent lower at 2,597.15 points and the FTSE/ASE 40 index ended at 685.53 points, up 0.90 percent.

The parallel market index for smaller capitalisation stocks ended at 948.82 points, up 3.42 percent.

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