Hellenic Exchanges, National Bank, S&B: Greek Market Preview
The following stocks may rise or fall in the Greek market today. Symbols are in parentheses after the company names and prices are from the previous close.
The benchmark ASE Index added 19.12, or 1.3 percent, to 1,526.91. The FTSE/ASE 20 Index of the country’s biggest companies advanced 1.6 percent to 731.04, while the Cypriot General Index gained 1.2 percent to 1,261.88.
Bank of Cyprus Pcl (BOC GA): The biggest lender on the eastern Mediterranean island is scheduled to report earnings after the market close in Athens today. Citigroup Inc. reiterated its “buy” rating on the lender and adjusted its estimates on expectations of higher net interest income and loan loss provisions, according to an e-mailed note today.
Hellenic Exchanges SA (EXAE GA): The operator of the Athens bourse said profit in the first nine months of the year declined 49 percent to 14.2 million euros ($19.7 million). Euroxx Securities kept it’s “equalweight” rating on the company saying earnings for the period were “weak” on lower average daily sales and reduced tariffs, according to an e-mailed note today. The shares rose 2.3 percent to 5.85 euros.
S&B Industrial Minerals SA (ARBA GA): Kriton Anavlavis will take over as Chief Executive Officer of the Greek minerals and materials group when current CEO Efthimios Vidalis’s term ends in the second quarter of next year. Separately, the company is scheduled to release earnings before the market opens today. The shares gained 4.7 percent to 3.55 euros.
Metka SA (METTK GA): Greece’s biggest power plant builder had its share-price estimate raised to 11.5 euros from 10 euros by analysts at Piraeus Securities.
National Bank of Greece SA (ETE GA): Greece’s biggest lender said it appointed Babis Mazarakis as CEO of the bank, reporting to Anthimos Thomopoulos, the group’s chief financial officer. The stock added 3.5 percent to 7.66 euros.
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