Subject: Greek Financial Market Update on June 20 Topic: misc-news From: Rising Sun Greek stocks closed lower in light trade at 904.66 points, down 0.76 %. Total turnover was 3 billion drachma on 1.5 mil shares traded(1.2 mil shares declined). Toturnover was Commercial Bk(213 mil drs), AEGEK(185mil), Alpha Credit Bk(130mil), Mega(110), and Chipita(106mil) followed. Balkan Export and Mega were top two heaviest volume traded( summing 320m shs). Titan Cement appeared with 103 million drs turnover. Most bank shares fell a lot and all sector indices dropped except insurance. Since all companies will have ex-dividend date but the general index does not reflect this adjustments(2.5-3 %). Technical indicators: 14 days MA= 901.89, RSA=58.02% ,200day MA=844.82 Forex fixing: usd= 225.305 up from 226.135, dem=161.760 same, and Jpy= 266.710 up from 267.770 -OECD says Greece has make the right economic choices but needs to go further. -Bulgarian Prime Minister is visiting Athens. -EU and OECD call on Greece to cut public spending drastically. -Small banks announce lower cuts than Nat'l bk of Greece which deposit rate fell to 13%. -EU's economy grew 2.7% in 1994 against 0.7% fall in 1993. US economy grew 4.1 % in 1994, which is slowing down dramatically. EU expects 3.1% in 95. Greek DGP is expected to grow 1.5 % in 95. Goldenbull in Athens