Monday, 14 Decemberr 2009
BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
The Greek market closed 2.4% lower on Friday. Greek bank stocks dropped 5.22%
after the Prime Minister’s comments in Brussels about addressing economic
problems. MOH (+3.90%), Ellaktor (+3.33%), PPC (+1.63%) and ELPE (+0.2%)
Intralot and HTO remained unchanged at 3.70 euro and 10.30 euro. Hellenic
Postbank and Piraeus Bank shed 7.18% and 6.80%. NBG (-6.10% at 17 euro),
Mytilineos (-4.54%), Bank of Cyprus (-3.02%) and Alpha Bank (-2.62%) CCH (-
1.51%), OPAP (-1.25%) and Titan (-0.99%). Volume at 293.2m euros.
Sentiment remains fragile.

Greek Macro
Eurogroup chairman Jean-Claude Juncker said on Friday he was confident
Greece would rein in public finances and that there was no risk of a Greek
state default.
Greek Prime Minister George Papandreou told Reuters on Friday that
Greece will meet its debt obligations and plans to reduce its budget deficit to
below 3 percent of GDP in four years.
Also, speaking to reporters at a European Union summit in Brussels the
prime minister said that “There is no possibility of a default for Greece.” He
also said there was no possibility of Greece leaving the euro area as Standard
Bank stated. Papandreou also said Greece plans more transparency in the tax
system.

Moodys in Athens to review rating (current A1)

PM to announce measures tonight at 7:00pm, these could include:
i) New tax rate structure ii) Higher tax rate for high income
iii) Less tax exemptions iv) Less bonus pays v) No change in depos

Corporate News

Hellenic Postbank
General meeting elected Mr Papadopoulos Kleanthis for President and Mr
Spyros Pantelias for Vice President.
Mytilineos / Denies possible acquisition of Skaramaga shipyards as
mentioned earlier in press reports

World Economy

USA
Retail Sales (MoM) (Nov) advanced 1.3% more than estimates for a 0.6%
increase (October: 1.1%).
Retail Sales ex Autos (MoM) (Nov) also advanced 1.2% more than estimates
for a 0.6% increase (October 0.2%)
Reuters/Michigan Consumer Sentiment Index (Dec) at 73.4, above estimates
for 68.6 (January 67.4)