OTE

Prime Minister Victor Ponta admitted on Friday that Romania is being affected by the sanctions against Russia, but he added Romania must meet its commitments and assume the responsibility to show that nobody may change the international law.

Unmoved by the prospect of a likely credit rating upgrade for Greece by Standard & Poor’s on Friday, investors in local stocks were rather bearish on Thursday, while the trading volume was the lowest observed in the last eight sessions.

The Athens Exchange (ATHEX) general index ended at 1,166.60 points, shedding 0.36 percent from Wednesday’s 1,170.85 points.

The benchmark index of the Athens Stock Exchange closed 0.25 percent higher on Monday, reaching 1,159.25 points and chalking up a fifth consecutive day of gains.

During that period, the general index has delivered combined gains of 6.7 percent.

However, turnover was considerably lower than in previous sessions, reaching just 44.7 million euros.

Britain’s Vodafone has agreed to acquire a further 73 percent stake in Greece’s broadband and fixed-line telephony provider Hellas Online for 73 million euros, to help it better compete in the highly competitive market.

The persisting gloomy outlook sent Greek stocks south for a tenth straight session on Friday.

The strong pressure on stocks, which doesn’t look like abating anytime soon, is considered a combined result of geopolitical tensions, uncertainty over banks in view of the ECB stress tests and the upcoming announcement of listed firms’ first-half results, due by the end of the month.

Greece’s privatization agency (TAIPED) expect to raise 300-380 million euros by March 2015 by auctioning frequencies to cell phone operators.

The prospects of a Greek sovereign debt rating upgrade by Moody’s next Friday pushed most local stocks higher on Thursday on improved, but still not satisfactory, turnover.

By Vangelis Mandravelis

Vodafone and Wind Hellas appear to have countered rival OTE’s offer for the pay-TV operations of Forthnet (Nova). The two telecommunications networks are preparing to submit, or may have already submitted, a new offer for Forthnet in its entirety and not just its pay-TV arm, although neither of the two would officially confirm it on Wednesday.

By Anestis Dokas

Blue chip companies have enjoyed borrowing costs of below 5 percent in their international corporate bond issues during the first half of the year. The main reason for the decline is the improvement in the country’s fiscal image, confirmed by Greece’s return to the bond markets in April for the first time since 2010.

Eleni Chrepa

Panagiota Fotou is so fed up with bad news on Greek free television that she’s willing to pay for programs that help her forget about her country’s economic woes.