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Athens News Agency: News in English, 09-11-19

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

From: The Athens News Agency at <>


  • [01] PM at EU socialist leaders' meeting
  • [02] Emergency siren testing on Fri.
  • [03] Gov't on credit market watchdog changes
  • [04] EL.PE 9-month results
  • [05] Stocks end 1.26% lower

  • [01] PM at EU socialist leaders' meeting

    Prime Minister George Papandreou attended the meeting of EU Socialist leaders in Brussels on Thursday, which took place before the EU summit.

    Speaking after the meeting, Papandreou said "we want a European Council president who shall contribute to the cohesion of Europe and we want a supreme representative for the European Union's foreign policy, who shall contribute to the handling of the major issues of our planet, international economic crises, climatic change, to facilitate a progressive as well as a strong voice for Europe, at last, at international level."

    Papandreou further said that "it is a very positive fact that the socialist group of the EU was able to discuss, with particular cohesion, the issues that were raised in the important positions of the president of the European Council and the paramount representative on foreign policy," adding that "we are showing an identity of views and a unity that is important for the future of the progressive forces on this continent."

    According to the prime minister, it is a new process following the ratification of the Lisbon Treaty, despite the fact that this Treaty has not solved all the problems of Europe.

    Lastly, Papandreou underlined that it is a new step and "we hope that Europe will obtain a strong and unified voice at last."

    [02] Emergency siren testing on Fri.

    (ANA-MPA) -- An emergency siren test will be conducted on Friday nationwide, the general secretariat of communication-information announced Thursday.

    The sirens will sound for one minute, from 11:00 a.m. (09.00GMT) to 11:01 a.m., within the framework of a regular civil defence drill.

    [03] Gov't on credit market watchdog changes

    (ANA-MPA) -- Government spokesman Giorgos Petalotis, responding to a question on the changes promoted for the Tiresias System, the domestic the inter-bank list of poor credit risks, stated on Thursday that the government is trying to create conditions that will boost the market, while protecting transaction security and public interest by stimulating the market.

    The regulation introduced by the government essentially restores a good credit rating to thousands of businesses that have paid off their debts or will be called to pay them off, he pointed out.

    [04] EL.PE 9-month results

    Hellenic Petroleum (EL.PE) on Thursday reported stronger nine-month results, with net profits totaling 201 million euros in the January-September period, up from 143 million euros in the corresponding period in 2008, while comparable net profits totaled 188 million euros from 171 million over the same periods, respectively, for an increase of 10 pct.

    Hellenic Petroleum said the improved results reflected lower spending, improved refinery margins, a strong US dollar and the results of a programme to boost the groupÔs competitiveness.

    EBITDA rose 2 pct to 332 million euros on a comparable basis, while published EBITDA jumped 17 pct to 349 million euros in the nine-month period. The refinery and distribution sector reported EBITDA of 245 million euros, up 1.0 pct from the same period last year, with third quarter results negatively affected by adverse international conditions in the refinery industry.

    The domestic distribution business reported a 25-pct increase in comparable EBITDA, while international business was affected by negative macro-economic conditions in the Balkans.

    The petrochemicals sector suffered by the effects from an international recession, although third quarter results showed a significant improvement compared with conditions in the first quarter of 2009.

    Yiannis Kostopoulos, chief executive of Hellenic Petroleum, said the group managed to report improved results "thanks to constant efforts to boost competitiveness and the performance of the group".

    [05] Stocks end 1.26% lower

    Stocks lost substantial ground at the Athens Stock Exchange on Thursday, pushing the composite index of the market below the 2,500 level. The index fell 1.26 pct to end at 2,497.15 points, with turnover at 200.8 million euros, of which 14.1 million euros were block trades.

    All sectors moved downwards, with the exception of the Utilities index which rose 0.10 pct. Financial Services (4.24 pct), Industrial Products (2.21 pct), Raw Materials (2.17 pct), Chemicals (2.16 pct) and Constructions (1.93 pct) suffered the heaviest percentage losses of the day.

    The FTSE 20 index fell 1.37 pct, the FTSE 40 index eased 1.69 pct and the FTSE 80 index ended 1.42 pct off. Broadly, decliners led advancers by 167 to 37 with another 49 issues unchanged.

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