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Greek Producer Index In Industry Rose By 7.3%



The Producer Price Index in Industry (PPI) in May 2011 compared with May 2010 recorded a rise of 7.3%, said the Hellenic Statistical Authority.
The index in May 2010 had recorded an increase of 7.9% compared with May 2009.

According to ELSTAT, the PPI in May 2011 compared with April 2011 recorded a fall of 1.3%. The index in May 2010 had recorded a decrease of 0.5% compared with April 2010.

The twelve-month average index, from June 2010 to May 2011, compared with the same index of the period from June 2009 to May 2010, increased by 6.8%. The previous year the twelve-month average index remained unchanged.

(capital.gr)
 
Greek Bank Push ASE Higher



Greek banks continue a mini-rally on Wednesday, following profits of 5.78% in the last two sessions. Today’s profits exceed 5%.

Ahead of the final act of the political thriller regarding the vote of the Medium-Term Fiscal Strategy, the market anticipates a positive outcome, moving towards 1,290 units with relatively increased turnover.


“The market demonstrated yesterday great anxiety to price-in its expectations concerning today’s (constructive) medium-term plan parliamentary vote, as well as positive developments coming from the French (Greek Government Bonds) rollover plan proposal”, said Pegasus Securities in its morning report.


“Despite failing to close at their intraday highs, large-cap equities remained strong throughout the session, with banking stocks continuing to be in the epicentre of investors’ interest”, it added.


Pegasus expects aforementioned productive context to continue to drive the market in positive territories today, especially if the outcome of the voting is favourable for the Greek Government.


On the board, the General Index rises by 2.54%, at 1,290.55 units, moving into positive territory since the opening. The turnover stands at €43.5m, while a total amount of 90 share rise, 27 decline and 23 remain unchanged.

Banks jump by 5.08%. Eurobank and Alpha Bank soar by 5.52% and 5.26% respectively, while National Bank and Marfin Popular Bank rise by 4.90% and 4.76% respectively.

(capital.gr)
 
Greek FinMin: New Tax Bill Under Preparation Soon



Greece has joined Germany and United Kingdom in the group of countries negotiating with Switzerland on the fighting against tax evasion, according to FinMin Evangelos Venizelos.

He told reporters that he and his Swiss counterpart held a call conference and agreed on utilizing the expertise developed by the other two countries.

Venizelos, also Vice-President, said that the preparation of the new tax bill would start right after the adoption of the medium-term program and the implementation act, in order to be completed by September. He said that he might be the head of the committee, which will implement the bill.

Regarding the special levy, Evangelos Venizelos reportedly considers a additional provision for citizens who worked in 2010 (hence will have to pay) but lost their job in 2011.

“It is right and fare to see these cases”, Venizelos told reporters.

(capital.gr)
 
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