Frriiday, 13 Novemberr 2009
BETA SECURITIES SA Member of the Athens Stock Exchange
Market Comment The Greek market closed 1.46% lower on €233.3m trading volume. Banks ended up lower with ETE closing at €24.80, 0.88% lower, Bank of Piraeus at €11.40, 2.73% lower and Alpha Bank at €11.18, 1.24% lower. OPAP also closed 1.96% down at €17.50. Today the markets are expected to open from lower levels following Wall Street and Asia fall.
Corporate News MOH GA / Decided the distribution of an interim dividend 0.20 per share. Ex interim dividend and payment date will be announced shortly. TEMP GA / Emporiki Bank, plans to proceed with a share capital increase of up to 1 billion euros which is going to be proposed to the upcoming extraordinary shareholders’ general meeting. 9M 2008 Results ATE GA / Net profit stood at €82.4m down 1.6%. Net Interest Income amounted to €545.9m up 15.5% mainly due to the sustained performance of interest income from loans (+10.3% yoy) and the decrease in interest expenses (-17.1%). Total loans stood at €21.6bn posting a 20.1% increase, far above the 5% increase of the entire Greek banking sector. Loans to deposits ratio increased to 100.6% from 95.2%. Cost to income ratio fell to 55.7% from 72.3% NI margin improved to 2.86% at the end of Sept 2009 compared to 2.69% at the end of June 2009. Capital Adequacy ratio stood at 12% and the Tier 1 ratio at 11.3%.
Macro Greece Unemployment rate in August 2009 stood at 9,0% compared to 7,1% in August 2008 and 9.6% in July 2009.
World Economy
European Monetary Union Industrial Production s.a. (MoM) increased 0.3% in September less than estimates (August: +1.2%)
USA Initial Jobless Claims (Oct 31) fall at 502K (estimates 512K, previous week: 514K)
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