Subject: Greek Financial Market Update on July 14
From: siatrou@cdsp.neu.edu (Steve Iatrou)
 
From: Akira Ohno <goldenjo@prometheus.hol.gr>
Newsgroups: misc.invest,misc.invest.funds,misc.invest.stocks,soc.culture.greek
Subject: Greek Financial Market Update on July 14
Date: 14 Jul 1995 13:49:56 GMT
Organization: Olympic Securities SA, member ASE

Athens General Index: 944.43, up 0.90% or 8.46 points
Turnover: DRS 7.06 bil (up 48% ) on 3.57 mil shares(2.9 mil shs 
advanced)
Construction sector index up 1.6% and Bank's up 1.39 %.
AEGEK was again the top turnover with 527 mil drs(three blocks were 
observed). Ergo Bk(443mil), Michaniki(380mil), and Attikat(378mil) 
followed.
Comm Bk and Alpha Cr Bk were actively traded. EKTER hit the 3rd 
concecutive day of limit up to 3,641. Construction stocks will continue 
climbing(my opinion, don't be late if you want ot join!!). Some 
investors are turning back to stocks from bonds thanks to the falling 
interest. Also the reivestment of dividend by insitutions are becoming 
visible.
-Athibor 1mo: 15.61%
-Forex fixing: usd=225.625, dem=162.390, jpy=258.030
-Greece will sign a contract this month with German's Hochtief for a new 
airport construction.
-Absorption EU funds(called Cohension fund) will hastened and inflows 
seen rising in the 2nd half 95.
-Government agreed to save Hell and Industrial Development Bk(ETVA). 
This cost is estimated 700 bil drs.
-Central bk and government concerned at rise in liquidity which could 
become problematic in monetary policy implementation.
-Central bk drained 150 bil drs in a weekly 1 mo depo tender at average 
rate of 15.49%.
-Tourist volume has dropped by about 30 % over last year due to poor 
infrastructure and services(Nobody tries to improve the reality!..my 
opinion).
-New 12 months T-bills will be issued on July 17.

Have a good weekend, folks!
Goldenjo from Athens with heatwave.