Monday, 02 Novemberr 2009

BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
ASE ended up 0.60% erasing the biggest part of its intraday gains, with volume at
€290m. NBG closed at €25.29, up 3.65% with 3.1m shares traded. EUROB GA
closed unchanged with 1.9m shares traded. OPAP closed up 0.58 on 0.86m shares
being traded. European and US markets ended remarkably lower, after grim news
about American consumers sowed more doubt about the strength of the US
economic recovery. For today’s session, domestic market is expected to open from
lower levels following losses in US and Asia.


Corporate News
METTK GA / Metka in deal with RWE to build Turkey power plant
Greek engineering firm Metka said it had signed a deal with RWE and Turcas
Guney Elektrim Uretim to build a 450 million euro 775 MW power plant in
Turkey. As a contractor for the RWE-Turcas joint venture, Metka, a unit of metals
group Mytilineos will construct an electricity plant fueled by naturas gas at
Denizli. The facility will use Siemens gas turbine technology.
The project is expected to be completed by end-2012.
ETE GA/Fitch Ratings has changed National Bank of Greece's Outlook to Stable
from Negative. The ratings have been affirmed at Long-term Issuer Default (IDR)
'A-', Short-term IDR 'F2', Individual 'B/C', Support '2' and Support Rating Floor
'BBB'.


Greek Macro
The turnover index in retail trade (provisional data), except automotive fuel, in
August 2009 as compared to August 2008, recorded a fall of 3,2 % at current
prices.
Accordingly the turnover index in retail trade, including automotive fuel, in
August 2009 as compared to August 2008,recorded a fall of 3,1% at current prices.
The food sector turnover in retail trade, in August 2009 as compared to August
2008, increased by 0,4 % in nominal terms while the automotive fuel sector
decreased by 6,9% and the non-food sector (except automotive fuel) decreased by
6,5 %.
The Producer Price Index in Industry (PPI) in September 2009 as compared to
September 2008 recorded a fall of 7.7%. A year earlier, the annual rate of change
of the PPI was 10.9%.
The PPI in September 2009 as compared to August 2009 recorded a fall of 0.8%.


World Economy

Germany
Retail Sales (MoM) (Sep) fell 0.5% (estimates: +0.8% August: -1.5%)
United Kingdom
Nationwide Housing Prices s.a (MoM) (Oct) increased 0.4% less than estimates
(September: +0.9%)

European Monetary Union
Consumer Price Index (YoY) (Oct) fell 0.1% in line with estimates
(September –0.3%)
Unemployment Rate (Sep) stood at 9.7% in line with estimates (August: 9.6%)

United States
Personal Consumption Expenditures (Sep) fell 0.5% in line with estimates
(August: 1.3%)
Reuters/Michigan Consumer Sentiment Index (Oct) stood at 70.6 in line with
estimates (September 73.5)

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