Χ.Α: Πάτε καλά;

ΕΠΙΤΕΛΟΥΣ ΑΠΟΚΑΤΑΣΤΑΘΗΚΕ ΤΟ ΙΝΤΕΡΝΕΤΙΚΟ ΚΑΙ ΟΧΙ ΜΟΝΟΝ ΠΡΟΒΛΗΜΑ που μας δημιούργησε πόλλά προβλήματα στη καθημερινή ροή μας.

Αλλά η αγορά έχει βάλει τον αυτόματο και τραβάει τον δρόμο της.

Εν τω μεταξύ χάρακες, αναλυτές κλπ κλπ μας έχουν ζαλίσει τον έρωτα για τις 950 τώρα, σε λίγο καιρό για τις 1000 μονάδες και ούτω καθ’εξής.

Δεν μπορούν να αντιληφτούν ότι ο δείκτης είναι βγαλμένος από τα πιο αρρωστημένα παραμύθια.

Είναι δείκτης που οδηγήθηκε στην ολοκληρωτική απαξίωση, εξαθλίωση θα λέγαμε καλύτερα, επειδή κάποια αστέρια (απο)δέχτηκαν τις 4 μετοχές της αμαρτίας και της τότε ρεμαλοσύνης να τον διαμορφώνουν και μάλιστα τρις μετά από ισάριθμα -99,9%(!!).

Πως είναι δυνατόν βρε παληκάρια, να βρίσκεται ο ΓΔ στις 950 μονάδες;; Αντιπροσωπεύουν οι 950 και οι 1000 αλλά και οι 2000 και 3000 χιλ. μονάδες την πραγματική δυναμική του ελληνικού χρηματιστηρίου; Πάτε καλά;

ΑΠΟ ΣΗΜΕΡΑ ΜΑΛΙΣΤΑ ο μ/μ δεν θα αναφερθεί ξανά στις πορείες των Δεικτών. Δεν θέλουμε να σας κοροιδεύουμε άλλο.

ΜΕΤΟΧΕΣ ΚΟΙΤΑΖΟΥΜΕ ΑΛΛΩΣΤΕ ΕΔΩ ΚΑΙ ΠΟΛΛΑ ΠΟΛΛΑ ΕΤΗ… ΑΓΝΟΩΝΤΑΣ ΠΡΟΚΛΗΤΙΚΑ ΤΟΥΣ ΔΕΙΚΤΕΣ ΣΤΗΝ ΛΗΨΗ ΤΩΝ ΕΚΤΙΜΗΣΕΩΝ ΜΑΣ.

  • SPREADS – MIA XAΡA ΚΡΑΤΟΥΝ, παρέα με την Ιταλία που κανονικά θα ήταν πολύ χειρότερη αν δεν της προσφερόντουσαν απίστευτα προνόμια, τα οποία αρνήθηκαν οι ευρωπαίοι αλήτες να δώσουν στην δική μας χώρα, έστω κάτι τι…
ΧΩΡΑ ΑΠΟΔΟΣΗ % Spread vs BUND
ΕΛΛΑΔΑ 1,38 +1,61
ΠΟΡΤΟΓΑΛΙΑ 0,43 +0,66
ΙΣΠΑΝΙΑ 0,44 +0,66
ΙΤΑΛΙΑ 1,37 +1,60
  • In the Spotlight – by BETA SEC

Greece: The Greek economy’s state “is a bit more positive” than expected two months ago, European Stability Mechanism (ESM) chief Klaus Regling said at a press conference after the Eurogroup meeting on Monday. Responding to a question on Greece, Regling said that Greek Finance Minister Christos Staikouras had met with the European Commission and ESM at the Eurogroup meeting, and that a mission with representatives of both EU bodies were already in Athens, with the participation of the European Central Bank (ECB), for an enhanced surveillance review.

  • Asked if lowering the primary surplus targets was mentioned, Regling said, “The joint mission – the Commission and ESM – with the participation of the ECB, is in Athens right now. So that’s the right opportunity to review the situation, to see whether our growth forecasts are still appropriate. The latest indications are actually a bit more positive than what we thought two months ago, but all that needs to be confirmed. There are other factors that affect the debt sustainability analysis, so all that will be assessed by the institutions together, and then we will report to the Eurogroup, probably in two months.”.

In other news technical teams representing Greece’s international creditors are due to return to Athens this week for talks with government officials as part of the country’s fifth post-bailout review which essentially paves the way for the use profits from Greek bonds (ANFAs and SMPs) and the reduction of high primary surplus targets. Meanwhile, the European Stability Mechanism (ESM) has appointed Paolo Fioretti as mission chief for Greece, replacing Nicola Giammarioli who held the post since 2015, the ESM said in a statement. 

Greece/Unemployment: Registered unemployment totaled 1,064,526 in December 2019 from 1,018,503 in November (an increase of 4.52%) and 935,449 in December 2018 (an increase of 13.8%), the Greek Manpower Employment Organization (OAED) said in a report on Monday. OAED said that a total of 500,049 (or 46.97%) of registered unemployed people were unemployed for more than 12 months, while 400,330 (37.61%) were men and 664,196 (62.39%) were women. A total of 63,895 registered unemployed were not seeking a job, while the number of registered unemployed people receiving unemployment benefit totaled 212,468 of which 118,929 were common workers and 93,539 were seasonal workers (tourism). 

Greece/Industrial Sales: Industrial sales growth remained negative in November with the annual rate falling to 7.9% y-o-y against a drop of 7.4% in the previous month, data from ELSTAT showed. In November 2018, sales were up 7.6%. On a monthly basis, industrial sales slipped 6.3%. Sales for the domestic market dropped 1.9% while the non-domestic market revenues were down 17.3%. Mining and quarrying turnover was up 25.7% while manufacturing turnover dropped 18% y-o-y. 

Greece/Current Account Balance: Current account balance showed a deficit of €1.4bn in November, narrowing by €54mn y-o-y, data from the Bank of Greece showed. An improvement mainly in the primary and secondary income accounts was cited. The deficit of the balance of goods narrowed due to a decrease in the non-oil deficit, while the oil deficit widened.

  • “Total exports and imports of goods declined by an almost equal amount mainly on account of a fall in oil exports and imports, respectively, while non-oil exports and imports of goods did not show any remarkable change,” BoG said.
  • A €114mn decrease in the surplus of the services balance is due to a decline in the surpluses of the travel and transport balances, and to the turn of the other services balance into a deficit. In the January-November period, the deficit of the current account shrank considerably and stood at €2bn, down by €1.7bn y-o-y. 

OTE: The company bought 40,000 own shares at €13.7843/share for a total consideration of €551.373K. Total treasury stock now amounts to 1.962% of share capital (9,414,943 shares). 

Alpha Bank: The bank assesses a potential issue a of lower TIER II €500mn bond 

Jumbo: Jumbo will hold its EGM today for the approval of the extraordinary dividend of 0.22 eur/share (before 5% dividend tax), which is part of extraordinary reserves from taxable and non-distributed profits of the fiscal year 2014/15. The stock will trade ex-dividend on January 24, 2020. 

NBG: Reportedly, chief executive Paul Mylonas informed staff that the VRS program will be pushed back to February 10, from the end of December. 

PPC: The company is expected to proceed to a €1.5bn receivables two tranches securitization (60 day and 90 day receivables) that will be concluded by end March 2020. PPC expects to secure €350-€400mn liquidity from the aforementioned securitizations. Recall that total bad receivables currently amount to €2.7bn. 

GEK TERNA: The company acquired7,284 own shares at €7.7434/share for a total consideration of €56.4K. Local Gaming Competition Authorities greenlights Mohegan – GEKTERNA’s technical offer for the Casino license in the new Hellinikon complex project. 

Sarantis: the company will construct new headquarter premises in Northern Athens area where it will be relocated from its existing facilities. 

Retail Sector: S/M chain Sklavenitis to expand in e-commerce through the acquisition of caremarket.gr platform from YODA SA. No financial details were disclosed. 

Banking Sector: Reportedly banks are planning to axe their headcount by some 2,500 employees in total through voluntary exit schemes this year, on top of the reduction of some 1,300 posts which will stem from the sale of Alpha and Eurobank’s NPL management units. Press reports cited bank executives are saying that the compensation options are expected to be “poorer” as the operating conditions of local banks have changed considerably in the past years. 

Cenergy Holdings: The company announced that its subsidiary Hellenic Cables has reached an agreement with Semco Maritime A/S for the supply of inter-array cables for the Mayflower Wind project, a joint venture of Shell New Energies US LLC and EDPR Offshore North America LLC. The offshore wind project was selected by the Commonwealth of Massachusetts to supply 804 MW of clean, renewable energy to electricity customers within the state with expected start-up in 2025.

  • Hellenic Cables will be responsible for the design, supply and storage of approximately 300 km of 66 kV, XLPE insulated submarine inter-array cables, aimed at connecting the project’s wind turbines to its offshore substation.
  • The cables will be manufactured in Hellenic Cables’ submarine cable production facility in Corinth, Greece. Continuous manufacturing is expected to be completed by the end of 2023, with final installation expected around 2025. 

AVAX: The ex-rights date for the €20mn share capital increase through the issue of 66,666,666 new shares at €0.30/share in the ratio of 0.85849970735 new shares for every 1 existing share is January 22. From the same date the Company’s existing shares will start trading on the Athens Stock Exchange without the right to participate in the Capital Increase and the starting price of the Company’s existing shares listed on the Athens Bourse will be adjusted in accordance with the Athens Bourse Regulation.

  • The exercise period of rights is set from January 27 to February 10 2020. Following the completion of the Increase, and in the event is fully subscribed, the Company’s share capital will amount to €43,296,454.80 and will be divided into 144,321,516 shares, with a nominal value of €0.30 each. The total funds raised, in case of full coverage, will amount to € 19,999,999.80. 

Pairis: The company will issue a new €8.96mn corporate bond loan to refinance existing loan lines.

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