Thurrsday, 03 Decemberr 2009
BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
Greek market ended 0.34% higher yesterday driven mainly by ETE (+3.12%) with
3.4m shares traded. Banks ended up mixed with EUROB (-2.50%), Alpha Bank (-
1.93%) and Bank of Piraeus (+0.84%). PPC lost 1.82% at 13.51 euros while
Ellaktor dipped 3.11% at 5.60 euros. Traded volume stood at 244.1m euros.
Today, European markets are seen opening from higher levels, while investors will
focus on European GDP and retail sales.

Greek Macro
"Investors' fears that the Greek government may be exposed to a liquidity crisis in
the short term are misplaced," Moody’s Investor Service said in a report.
Moody's, which in October placed the country's A1 sovereign rating under review
for possible downgrade, clarified this was due to long-term considerations over the
country's economic potential, not any short-term liquidity risks. "The risk that the
Greek government cannot roll over its existing debt or finance its deficit over the
next few years is not materially different from that faced by several other euro area
member states." However, Moody's added that longer-term erosion of the country's
growth potential could hurt its creditworthiness.
Papaconstantinou said Greece had no plan to sell bonds to China, as reported by a
website in Athens.

Corporate
Hellenic Petroleum / Appointed Tassos Giannitsis, a former government minister,
as its new chairman and kept John Costopoulos as CEO.

National Bank / The board of National Bank appointed Apostolos Tamvakakis as
new chief executive officer and Vassilis Rapanos as new chairman.

Ellaktor / The company’s investments in the Gulf area account for the 30% of the
total unexecuted orders. As far as Dubai-Fujaira highway is concerned, the
management said that it is s state project, with its funding being dependent on Abu
Dhabi, not Dubai. The company’ says that there is no impact of the recent
developments in Dubai on the company’s operations.

OPAP / The company will extend the hours of Kino numerical game operation,
during Christmas period. In December and January the game will run from 10 am
to 9 pm. OPAPs management estimates that this move will boost revenues, which
posted a 9% y-o-y sales decrease.

MIG / Marfin Investment Group Holdings and Veolia Environnement S.A
announce that they have signed a Memorandum of Understanding (“MoU”) to
create a new joint venture company to be named “Veolia-MIG Greece”, to jointly
and exclusively pursue environmental, energy and transportation/logistics projects
in Greece and Cyprus. Under the MoU, Veolia will hold a 51% stake in the
company while MIG will hold the remaining 49%.
The new company will pursue activities relating to management of water,
wastewater, and waste; development and operation of energy production facilities
of both renewable and traditional sources; and also activities relating to logistics
and transportation services.

Υπάρχει συνημμένο αρχείο στο μήνυμα για να κατεβάσετε, με περισσότερες πληροφορίες.