Athens News Agency: News in English, 00-05-31

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

CONTENTS

[01] Parliament-2004 Olympiad-Simitis

[02] Foreign Exchange Rates-Thursday

[03] Weather Forecast-Thursday

[04] Christodoulos - IDs - Government

[05] Fourlis Group-1st quarter results

[06] Alpha Trust-new investment fund

[07] Grigoris Snacks-IPO oversubscribed

[08] ADEX-close

[09] Ideal Group-expansion plans

[10] ASE-close

[01] Parliament-2004 Olympiad-Simitis

Prime Minister Costas Simitis emphasised the link between the country's social modernisation and the successful organising of the 2004 Athens Olympic Games in an address in Parliament on Wednesday during an off-the-agenda debate on the course of projects planned for the Olympiad.

Simitis rejected arguments set out by the opposition on delays in projects, speaking of a "nihilistic logic" and expressing certainty that objections would be dismissed in practice.

Appearing optimistic despite whatever delays, Simitis recalled the country's accession to Economic and Monetary Union, invoking it as an example of Greece's prospects and potential.

Commenting on the opposition's position, he spoke of a nihilistic logic which has been expressed by the opposition over the past four years on all issues.

[02] 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 334.235

U.S. dollar 359.233

German mark 170.892

[03] Weather Forecast-Thursday

Fair weather is forecast in many parts of the country on Thursday with scattered cloud in central and northern Greece expected to turn to showers and short-lived storms.

[04] Christodoulos - IDs - Government

The powerful prelate of Greeces Orthodox Church on Wednesday continued his highly publicised campaign against the Greek governments intention to exclude religious affiliation from new state-mandated ID cards, charging that the government ?violated a gentlemens agreement? over the matter.

Archbishop of Athens and All Greece Christodoulos stressed that the government has taken an ?amoral decision? that flies in the face of ?the vast majority of Greek citizens represented by the Church?.

The ?ID card? furor erupted in earnest this month throughout the predominately Orthodox nation of 11 million after a state-appointed committee, the Authority for the Protection of Personal Data, conveyed its opinion to the Simitis government.

The ongoing furor and the governments insistence in pushing ahead with what Greek Prime Minister Costas Simitis has called as imperative to ?protect citizens sensitive personal data? resulted in a packed house for the Archbishops address at a press luncheon.

The question of whether "we are firstly Greek or firstly European is a false and non-existent dilemma," Simitis said on Tuesday during a press conference with his visiting Belgian counterpart.

[05] Fourlis Group-1st quarter results

Fourlis Group on Wednesday announced a 50 percent jump in its 1st quarter consolidated sales to 33 billion drachmas from 22 billion the same period in 1999, while pre-tax profits totalled 4.0 billion drachmas from 700 million last year, a rise of 458 percent.

Fourlis Group retains the management in 18 companies in Greece and abroad.

An annual general shareholders' meeting, due June 23, is expected to discuss a share capital increase plan, worth 11 billion drachmas, aimed at expanding activities.

[06] Alpha Trust-new investment fund

Alpha Trust on Wednesday said it had won approval by the Capital Markets' Committee for the operation of a new investment fund, called Alpha Trust Andromeda AEEX.

The new company, a member of Alpha Trust group, will take over the management of the group's two investment funds, Alpha Trust Orion and Alpha Trust Andromeda, with assets at 43 billion drachmas and 11 billion drachmas, respectively.

The investment fund company will invest in medium- and large-capitalisation listed growth companies in all market sectors.

The company will offer a full range of investment capital management services to social security and insurance companies.

[07] Grigoris Snacks-IPO oversubscribed

An inital public offering by Grigoris Snacks ABEE was 63.5 times oversubscribed raising more than 273.1 billion drachmas, a company statement said on Wednesday.

Grigoris Snacks seeks listing on the parallel market of smaller capitalisation stocks of the Athens bourse.

A total of 111,491 investors subscribed in the IPO offering 207.6 billion drachmas while 492 institutional investors subscribed raising 65.5 billion drachmas.

From a total 4.4 billion drachmas drained, the biggest part will be used to expand the company's network in Greece to a total of 110 by the end of the year.

Grigoris Snacks plans an investment programme worth 5.4 billion drachmas for the next five years.

[08] ADEX-close

Derivatives prices ended mixed on the Athens Derivatives Exchange on Wednesday following a similar close in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40.

Turnover was a moderate 9.2 billion drachmas in volume of 2,639 contracts.

A total of 1,086 futures contracts were traded on the FTSE/ASE 20 index, worth 5.3 billion drachmas. The June expiring contract ended at 2,527.50 points, the July ata 2,528.75 and the August contract at 2,540 points.

A total of 1,553 futures contracts were traded on the FTSE/ASE 40 index, with a turnover of 3.9 billion drachmas. The June expiring contract ended at 661.75 points, the July at 657.50, the August at 656 and the September contract at 662 points.

[09] Ideal Group-expansion plans

Ideal Group, a listed member of Levendis Group, on Wednesday announced plans to expand in new markets through the creation of an internet portal and an internet service provider company in Cyprus.

Ideal signed an alliance agreement with Panafon, Hellenic Bank and Lanitis Group.

The new company will use Ideal's international expertise in the internet sector, a result of the company's participation in internet services in Greece and abroad.

[10] ASE-close

A wave of buying in small capitalisation stocks helped the Athens Stock Exchange to a modest recovery on Wednesday, after a two-day decline of prices.

Dealers said blue chip stocks remained weak and said that an improved picture of international markets and better-than-expected corporate results encouraged sentiment in the Greek bourse.

The general index ended at 4,608.24 points, up 0.83 percent, but off the day's highs of 4,640.97 points. Turnover was an improved 190 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.58 percent higher at 2,554.78 points and the FTSE/ASE 40 index jumped 1.41 percent to 672.70 points.

The parallel market index for smaller capitalisation stocke ended at 998.15 points, up 1.94 percent.

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