Thurrsday, 19 Novemberr 2009
BETA SECURITIES SA
Member of the Athens Stock Exchange

Market Comment
The Greek market closed 1.1% higher yesterday, led by banks
(+2.38%). In particular, ETE closed +4.48% with 2.8m shares traded,
EUROB closed +1.81% with 1m shares traded and TPEIR +2.05% with
1.2m shares traded. Among other blue chips Hellenic Petroleum was the
biggest gainer advancing 5.00% at 8.19 euro followed by Mytilineos
(+4.36% at 5.50 euro). Trading volume stood at €307.1m.

9M2009 Results Consensus Estimates

ELPE GA / Announces 9M 2009 results, today after market close
Consensus estimates expect net profit at €193.5m (+26.3%), ebitda at
€342.5m (-0.2%). Stripping out the effect of oil prices on the value of
inventories and one off costs form a job cutting programme, its ‘clean’
net income is expected at €159.1m (-12.3%) and clean ebitda at €299.7
(-19.3%)m.

TPEIR GA / Announces 9M 2009 results, today after market close
Net income is expected to post a 54% decrease at €202.7m. NII is
expected at €808m, posting a 6.2% decrease.

World Economy

United States
Consumer Price Index (MoM) (Oct) at 0.3% above estimates
(September 0.2%)
Consumer Price Index Ex Food & Energy (MoM) (Oct) at 0.2% above
estimates (Sept 0.2%)
Housing Starts (YoY) (Oct) 0.53M below estimates (Sept 0.59M)
0.53M 0.60M 0.59M
Building Permits (MoM) (Oct) 0.55M, below estimates (Sept 0.57M)

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