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Ellaktor, Eurobank, National Bank, Titan Cement: Greek 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 dropped 25.27, or 1.8 percent, to 1,411.39. The gauge is headed for a 8.8 percent decline this month. The FTSE/ASE 20 Index of the country’s biggest companies declined 1.9 percent to 663.99, while the Cypriot General Index lost 1.3 percent to 1,084.16.

EFG Eurobank Ergasias SA (EUROB GA): Greece’s second- biggest lender said net income in the third quarter dropped to 10 million euros ($13.1 million) from 111 million euros a year earlier after the bank increased provisions for bad loans. That beat the 12.6 million-euro average estimate of 10 analysts in a Bloomberg survey. The shares declined 3.8 percent to 3.83 euros.

Ellaktor SA (ELLAKTOR GA): Greece’s biggest builder said net income dropped to 8.5 million euros in the first nine months of the year from 72.4 million euros in the same period a year earlier. The shares lost 4.3 percent to 3.11 euros.

Hellenic Postbank SA (TT GA): The state-controlled lender posted a third-quarter profit of 1.6 million euros, compared with 31.6 million euros a year earlier. The shares fell 1.1 percent to 2.77 euros.

J&P-Avax SA (AVAX GA): Greece’s second-biggest builder said nine-month net income dropped to 9.8 million euros from 23.4 million euros a year earlier. The shares were unchanged at 1.24 euros.

National Bank of Greece SA (ETE GA): Greece’s biggest lender reported a third-quarter profit of 113 million euros, beating the average of 14 analyst estimates of 105.5 million euros in a Bloomberg survey. The stock declined 2.5 percent to 6.26 euros.

Piraeus Bank SA (TPEIR GA): Greece’s fourth-biggest lender had its share-price estimate raised to 2.75 euros from 2.5 euros at Citigroup Inc. The stock lost 1 percent to 3.01 euros.

Sidenor SA (SIDE GA): Citigroup lowered its share-price estimate on Greece’s biggest steelmaker to 2.80 euros from 3.10 euros. The shares were unchanged at 2.31 euros.

Terna Energy SA (TENERGY GA): The Greek renewable-energy company posted nine-month net income of 5.6 million euros from 13.5 million euros a year earlier. The stock advanced 0.4 percent to 2.79 euros.

Titan Cement Co SA (TITK GA): Greece’s biggest producer of cement had its share-price estimate cut to 21 euros from 25.60 euros at National P&K Securities. The shares dropped 1.5 percent to 14.40 euros.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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