The ATHENS STOCK EXCHANGE Tense

Subject:   Press: NBG’s new shares (post-split) to debut trading on Sep. 3. ü    According to  newmoney.gr , NBG’s new shares post the 1-to-10, split will debut trading on ATHEX on Sep. 3. ü    Accordingly, shares will be trading until August 28 (inclusive) with trading being temporarily suspended for 3 days, from Aug. 29 to Aug. 31. ü    We contacted the bank and we were advised that the aforementioned timetable seems correct but an official press release will be issued once the issue is fully resolved. ü    Recall that former press reports were mentioning that share will seize trading tomorrow with trading on new shares starting again on Aug. 28. This is no longer valid.

AAPL = 5 times GDP Greece

S&P  upgraded  Ellaktor’s  long-term credit rating to 'B' from 'B-' with a positive outlook. The upgrade reflects the improved macroeconomic and policy environment in Greece leading to further strong traffic growth in group’s mature toll road concessions, along with rising construction revenues and margins. S&P predicts group adjusted debt to EBITDA ratio to remain at 4.0x-5.0x over 2018-2020 from 6.5x at year-end 2016. The rating agency also notes that it waits for more details of new management’s reorganisation plan. 

Greece’s  Manufacturing   PMI  shaped at 53.5 units in July 2018 (unchanged from June), as output and new orders continue to rise strongly, while the rate of job creation accelerated. Accordingly, Greek manufacturers maintained a firmly optimistic outlook with regard to output growth over the coming year. On the negative side, input costs continued to rise at a sharp pace in July, posing a risk to new order growth going forward.