The Athens Stock Exchange enters the rhythm of the fifteenth of August (or Easter of the summer), with many order books remaining closed.
However, many are trying to risk off (to reduce the risk that is).
After all, the Japanese fever remains high and that -13% last Monday will hardly be forgotten.
How much more so when they enter the frame and… natural phenomena.
… and the defenses that went for a walk
For now, as the chart supports have “gone for a walk” we share the stock saying “don’t catch the knife when it’s falling”.
That’s what our sources who follow the current turmoil tell us, giving yet another special and little-known statistic.
When the Japanese tighten their currency policy sooner or later a major correction has come internationally…
Will it be confirmed? No one knows, but everyone should be on the defensive.
After all, given the conditions, “shallow” and naturally strongly emotional Markets such as the Athens Stock Exchange, cannot remain in balance.
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The difficult decision of Mytileneos
A quite interesting interview was granted by Evangelos Mytileneos to the Sunday Times.
The well-known businessman referred, among other things, to the decision to rename the group to Metlen and also to the group’s big step on the English stock exchange (LSE).
After underlining that the most difficult part of the whole relisting process was the change of the family name, he emphasized that it was necessary as advised by the London bankers.
Mr. Mytilineos believes that the listing of Metlen on the LSE will help the London stock exchange, along with other companies, to find its former glory.
He even stated that London remains an economic hub, stressing that he believes that the City of London has seen the worst after Brexit.
We remind you that Metlen’s shares will continue to be traded on the Athens Stock Exchange.
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High voltage opportunities
The acquisition of Evryo Group, owned by Macquarie funds, by PPC was attempted by management to be kept secret until its official announcement.
The information said in the last period that the Greek group was “scanning” the Balkan RES market until Macquarie executives proposed to the president and CEO George Stassis the sale of the portfolio of active RES projects with a capacity of 629 MW.
The Australians, the information says, were on a trajectory of disinvestment from Romania as their overall activity and especially that of production was not performing as expected due to the regulatory measures imposed by Bucharest during the energy crisis.
However, according to sources, PPC is no longer expected to make new acquisitions.
Of course, the president and CEO always surprises and it is not excluded, according to information, if he finds a similar investment opportunity on the road to seize it.
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The extra costs in the “marriage” of cash registers – POS
The partners of the large IT companies that implement the project of mandatory replacement of tax mechanisms with new ones “saw” as an opportunity to… get something extra, as our sources say.
Those that are compatible with the legislation and the interconnection of the ERP programs that work as a cashier with the POS.
According to the same sources, apart from the thoughtless charges, the specific ones “discover” a bunch of extra costs during the course of the project, which derail the budget and far exceed the initial offers they gave.
… and the icing on the cake
For its part, the company, being in a disadvantageous position, accepts the extra charges since if the necessary connection with the card terminals is not completed, it risks fines.
The informant of the column is aware of a case where a company in the sector undertook to carry out the project in a small business at a cost of 500 euros and along the way informed it that this only concerned the installation of the new mechanism and not the interface with the POS.
This is the “icing on the cake” of the suffocating situation that is forming in the trade at this time, with the summer sales not… pulling. Anyone listening over there at Maximos?
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A “hidden bribe”
The heat waves have boosted the consumption of bottled water and soft drinks and of course beer. Making companies rub their hands in satisfaction.
However, there is a charge that threatens this course. The reason for the DRS (Deposit Return System). People in the market say that especially the smaller players will come under pressure…
Coca-Cola HBC’s first half results in Ireland provided a taste of the potential impact.
Carbonated soft drink volumes fell by “mid single digits” as consumers didn’t want to pay the price of going green.
Encouragingly, according to the company, is the fact that volumes improved in the second quarter compared to the first.
Coca-Cola HBC executives, however, said the introduction of DRS in Ireland as well as Hungary was welcome, and stressed that they would continue to support the introduction of “well-designed” systems to ensure high packaging collection rates.
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Digitization is done, bureaucracy is left…
The “monster of Greek bureaucracy” lives and continues to plague us despite the extensive digitization of public services.
At least that’s what people in the business world point out in the column.
They even refer to two cases where they found firsthand a huge delay in receiving the necessary documents: firstly, in receiving the certificate for the cessation of operation of a business and secondly in the change of headquarters.
In the first, it took about 7 months and in the second more than 9 months from the submission of the relevant application in the digital system.
“The submission of the application was digitized, not the system,” they tell us.
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