Kathimerini English - - Focus -

Greece sold 1.137 bil­lion eu­ros of six-month trea­sury bills yesterday to re­fi­nance a ma­tur­ing is­sue, keep­ing its public fi­nances afloat. The Public Debt Man­age­ment Agency (PDMA) sold the new pa­per at a yield of 2.97 per­cent, un­changed from a pre­vi­ous sale last month. In the rollover, T-bill hold­ers – mostly banks – re­new their po­si­tions in­stead of get­ting paid on the ma­tur­ing pa­per they hold. The sale’s bid-cover ra­tio was 1.30, un­changed from the last sale. The amount raised in­cluded 262.5 mil­lion eu­ros in non-com­pet­i­tive bids. Set­tle­ment date will be to­mor­row. Net profit is ex­pected to fall to be­tween 78-88 mil­lion eu­ros, ac­cord­ing to Reuters cal­cu­la­tions. Jumbo, which op­er­ates 53 stores in Greece and 19 in Cyprus, Bulgaria and Ro­ma­nia, said that sales for its fis­cal first quar­ter to Septem­ber rose 4.8 per­cent to 152.6 mil­lion eu­ros thanks to growth in for­eign mar­kets. They are ex­pected to rise by up to 4 per­cent for the full year. The Athens-listed com­pany said it would up­date its fore­casts af­ter its fis­cal sec­ond quar­ter, which in­cludes the Christ­mas sea­son.

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