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Athens News Agency: News in English, 10-10-29

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

From: The Athens News Agency at <>


  • [01] Major public sector restructuring
  • [02] Stocks end 1.93% down

  • [01] Major public sector restructuring

    (ANA-MPA) -- The Greek government is now focusing efforts on cutting the fiscal deficit and the urgent restructuring of loss-making public sector enterprises, including the Greek capital's public transports -- buses, electric bus, metro and tram line -- according to the latest reports out of Athens.

    Public sector enterprises‚ deficits and debt (including pension funds, state hospitals and local authorities) are added in the general government‚s deficit and debt figures, pushing the country‚s fiscal deficit to 15.4 pct of GDP for 2009, from 13.8 pct envisaged in the 2011 budget draft, probably leading to pressure for additional fiscal cutting measures in Greece.

    (To view the entire article please call the ANA-MPA's subscription department at 2106400560)

    The situation in the 11 most loss-making public sector enterprises could be characterised as "irreversible" over their future survival, unless drastic measures were taken. (ANA-MPA)

    More details on the subscriber's page of APE-MPE | Subscription request form

    [02] Stocks end 1.93% down

    Stocks remained under pressure during the last trading session of the week at the Athens Stock Exchange on Friday, hit by a sharp rise in Greek bond spreads and an announcement by Piraeus Bank of an 1.05 billion euros share capital increase plan.

    The composite index fell 1.93 pct to end at 1,547.43 points, for a net loss of 3.63 pct in the week. Turnover was an improved 156.222 million euros. The Big Cap index dropped 2.31 pct, the Mid Cap index fell 1.84 pct and the Small Cap index ended 2.21 pct down. OPAP (3.59 pct), Hellenic Petroleum (0.70 pct), Titan (0.20 pct) and PPC (0.08 pct) were the only blue chip stocks to end higher, while Alpha Bank (6.48 pct), Eurobank (5.32 pct), Piraeus Bank (4.35 pct) and National Bank (2.72 pct) suffered the biggest losses.

    The Insurance (0.82 pct) and Travel (3.09 pct) sectors scored gains, while Health (7.53 pct) and Banks (3.81 pct) suffered the heaviest percentage losses of the day. Broadly, decliners led advancers by 123 to 47 with another 46 issues unchanged. Attikat (10 pct), Creta Farm (9.68 pct) and Druckfarben (9.62 pct) were top gainers, while Vell Group (12 pct), VIS (9.89 pct) and Olympic Catering (9.28 pct) were top losers.

    More details on the subscriber's page of APE-MPE | Subscription request form

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