Thurrsday,, 29 Octtoberr 2009

BETA SECURITIES SA
Member of the Athens Stock Exchange


Market Comment
ASE ended down 2.5% on lower €268m volume. NBG closed at €24.76,
down 3.21% with 3.2m shares traded. EUROB GA closed also down
3.03% with 2.2m shares traded. OPAP closed down 1.88% on 0.86m
shares being traded.
European and US markets also dropped. For today’s session, domestic
market is expected to open from lower levels, following losses in US and
Asia.


Corporate News
EEEK GA
The company is seen posting a 3.5% drop in third quarter profit, reflecting
pressures on soft drink demand due to the recession.
In particular 3Q 2009 results are seen at 205.4m from 212.8m a 3.5%
drop. Sales are expected at 1,991.7m from 2,074.8m an 0.5% decrease.
Focus will be on any indication about how consumer trends will affet the
bottler’s performance next year.
The company announces results on November 5.


Greek Macro
Growth in Greek household borrowing slowed further to an annual 3.9
percent in September from 4.7 percent in August according to the
country's central bank
A sharp slowdown in economic activity coupled with tighter credit
conditions are eating into the loan growth that had fuelled consumption
and economic expansion in Greece and boosted bank earnings.
Household loan balances grew by 529 million euros in September.
Mortgages grew at a slower 4.4 percent annual pace, or 403 million euros,
from 4.8 percent in August and 11.5 percent in December.
Consumer credit expanded by 3.3 percent, down from 4.8 percent in
August and 16 percent in December.
Credit to business also slowed, to an annual 6.8 percent clip in September
from 7.3 percent in August and 18.7 percent in December.


World Economy
United States
Consumer Confidence (Oct) reached 47.7 below estimates for 53.6
(September: 53.4)
Richmond Fed Manufacturing Index (Oct) at 7 below estimates for 14
(September 14)
Durable Goods Orders (Sep) at 1% in line with estimates (August: -2.4%)
New Home Sales (Sep) reach 402K from 429K in August (from 440K
widely expected)


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