Tuesday, 12 Januarry 2010
BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
ASE ended 0.53% lower at 2,315 points, and turnover at 174 million euros.
Banks fell 0.54%, telecoms 0.28% while oils advanced 1.18%. Most active stocks
ETE with 58m , ACB with 22m and OPAP with 11m.
Eurobank (+1.28%) Piraeus Bank (+1.07%) while ETE dropped 1.49%. Titan (-
4.50%), OPAP (-3.16%). Also in FTSE 20 Ellaktor (+1.94%), Mytilineos (1.79%),
ELPE (+1.38%).
Of the stocks moved, 93 were up, 111 were down, and 42 were unchanged.
Keep an eye on privatisations and T-bill auctions (EU1.6bn ).

Greek Macro

December CPI and HICP
The Consumer Price Index (CPI) in December 2009, as compared to December
2008, increased by 2.6%. A year earlier, the annual rate of change of the CPI was
2.0%.
The Harmonized Index of Consumer Prices (HICP) in December 2009, as
compared to December 2008, increased by 2.6%. A year earlier, the annual rate of
change of the HICP was 2.2%.

IOBE Says Greek Economic Sentiment Deteriorates In December
Economic sentiment in Greece worsened for second month in the row in December
in contrast to the majority of the rest European countries, the Foundation for
Economic and Industrial Research (IOBE) said on Monday. IOBE said its
economic climate index dropped to 64.2 points from 66.4 in November, but still is
higher than the medium for 2009, which is 56.9 points.

ASE STATISTICS
The value of transactions in ATHEX in December 2009 reached €4,658.45 million
decreased by 16.3% compared to November 2009 when it was €5,563.36 million.
Compared to December 2008, when the value of transactions was €2,701.93
million, there was a significant increase of 72%.
The Market capitalization of the Athens Stock Exchange on 31/12/2009 was €84.1
billion. Compared with the corresponding capitalization of November 2009, which
was €83.9 billion, there was a marginal increase of 0.13%, while compared with
the corresponding capitalization of December 2008, which was €69 billion, the
increase was 21.8%.
In December 2009, international investors as a whole were net sellers by €359.96
million. The outflows were mostly from international institutional investors
(€316.99 million). Greek investors were net buyers by €336.32 million, breaking
down in Greek retail investors (€354.13 million) and Private non-financial legal
entities (€24.87 million), while Greek institutional investors and the Greek Public
Sector (State and State Controlled Funds) were net sellers of €39.43 million and
€3.25 million respectively.
Greek retail investors in December 2009 did 29.7% of the transactions’ value.
Overall, in 2009 foreign investors were net buyers, unlike in 2008 when they were
net sellers with €3,59 billion of outflows.

Corporate News

PPC: Electricity tariffs will remain unchanged in 2010, according to Ms. Birbili,
Minister for the environment, Energy and Climate Change, even after a rise in oil
prices within the year.

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