Today’s Headlines
· Greek CPI up by 2.9% y-o-y in September (ELSTAT)
· Industrial production up in August (ELSTAT)
· CENERGY successfully completed the SCI
· National Bank of Greece to establish a digital real estate platform-Press
· Bank of Cyprus cancellation of own shares
· PPC Share buyback
· KLM to acquire 100% of Europa Insurance
· Intracom Holdings bought Intralot shares
Macro Headlines
Greek CPI up by 2.9% y-o-y in September (ELSTAT)
According to ELSTAT, CPI (national index) increased by +2.9% y-o-y and by 1.8% m-o-m in September 2024, while the annual average rate of CPI increased by +3.0% over the trailing 12 months. The sectors with the most notable y-o-y movements were Housing (+5.9%) and Hotel – Cafes – Restaurants (+5.5%). Additionally, the harmonized CPI in September 2024 rose by 3.1% y-o-y (up from 3.0% flash estimate released earlier this month) and increased by 1.8% m-o-m.
Industrial production up in August (ELSTAT)
According to ELSTAT, the Industrial Production Index (IPI) rose by 3.1% y-o-y in August 2024, due to the 3.9% YoY increase in both Electricity supply and water supply sub-indices. In January-August 2024, Greek industrial production rose by 6.7% y-o-y.
Company Headlines
CENERGY successfully completed the SCI
CENERGY announced that it successfully completed the share capital increase of EUR 200m, with the issuance of 22,222,222 new shares at a price of EUR 9/share. According to the timetable, the new shares will be allocated to the beneficiaries on 15 October and will commence trading on 16 October.
National Bank of Greece to establish a digital real estate platform-Press
Press reports (Kathimerini) suggest that National Bank of Greece will form a joint venture with Qualco, holding a minority stake of 49% in order to establish a digital real estate platform where potential buyers will seek real estate assets and receive a loan by NBG.
Bank of Cyprus cancellation of own shares
Bank of Cyprus announced that it cancelled 116,364 own shares that were repurchased between 23 September 2024 and 04 October 2024. Thus, the share capital of the bank now amounts to EUR 44,271,839, divided into 442,718,391 common shares.
PPC Share buyback
The company announced that it purchased from 3.10.24-9.10.24, 368,291 own shares at an average price of EUR 11.606. The company now holds 27,613,309 shares or 7.23% of the total share capital.
KLM to acquire 100% of Europa Insurance
The company announced that will acquire 100% stake of Europa Insurance for a total consideration of EUR 46.5m. The transfer of the shares will take place in two stages, initially 65% for a total amount of EUR 30.0m and subsequently the remaining 35% for a total amount of EUR 16.5m.
Intracom Holdings bought Intralot shares
Intralot announced that Intracom Holdings acquired yesterday, 100,000 common shares of Intralot at an average price of EUR 1.0744 and for a total value of EUR 107,440.08.
Calendar of Events
Macros
11/10/24 | Evolution of Turnover of Enterprises AUG
15/10/24 | Import Price Index in Industry AUG
17/10/24 | 2023 GDP (provisional data)
18/10/24 | S&P Global Ratings – Greek sovereign credit review
3Q/9M24 Results Release
23/10/24 | Sarantis
24/10/24 | Metlen
31/10/24 | Coca-Cola HBC
01/11/24 | Piraeus Financial Holdings
05/11/24 | National Bank of Greece
07/11/24 | Eurobank Holdings, Titan Cement, PPC
08/11/24 | Alpha Services and Holdings
11/11/24 | Optima bank
EGM / AGM
23/10/24 | GEK TERNA (EGM)
30/10/24 | Kloukinas-Lappas (EGM)
04/11/24 | PPC (EGM)
Ex-Dividend
11/10/24 | Domaine Costa Lazaridi (EUR 0.03)
21/10/24 | Alpha Trust Andromeda (EUR 0.17), Moda Bagno (EUR 0.38)
23/10/24 | ELVE (EUR 0.40)
04/11/24 | OPAP (interim dividend EUR 0.60)
Initiation of trading of new shares
11/10/24 | Alpha Services and Holdings (from stock option rights)
16/10/24 | Cenergy Holdings (from SCI)
Research Department
Equity Research
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