Greek stocks ended higher in the Athens Stock Exchange on Tuesday, reversing a three-day decline which pushed the composite index of the market 4.50 pct lower. Traders said the recovery was based on improved market sentiment after the release of revised upwards GDP figures for the third quarter of 2016 and positive comments made by European officials over negotiations with Greek authorities over a second review and debt relief measures.
The composite index rose 1.08 pct to end at 610.60 points, off the day’s highs of 616.79 points. The Large Cap index ended 1.47 pct higher and the Mid Cap index eased 1.35 pct. Turnover was an improved 50.898 million euros in volume of 87,814,080 shares.
Alpha Bank (5.92 pct), Eurobank (5.61 pct), Lamda Development (4.62 pct) and Piraeus Bank (3.45 pct) scored the biggest percentage gains of the day among blue chip stocks, while Titan (3.91 pct), Hellenic Exchanges (2.07 pct) and Folli Follie (1.16 pct) suffered losses.
Among market sectors, Banks (5.11 pct), Telecoms (2.31 pct) and Real Estate (2.31 pct) were top gainers while Construction (2.97 pct), Financial Services (1.72 pct) and Commerce (1.16 pct) ended lower. Piraeus Bank and National Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 46 to 42 with another 28 issues unchanged. Pasal (19.35 pct), Audiovisual (9.09 pct) and Chatzikraniotis (8.63 pct) were top gainers, while Lazaridis Estate (27.51 pct), Pegasus (19.79 pct) and Logismos (18.18 pct) were top losers.
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds widened slightly to 6.76 pct in the domestic electronic secondary bond market on Tuesday, from 6.74 pct the previous day, with the Greek bond yielding 6.98 pct and the German Bund yielding 0.22 pct. Turnover was a thin 3.0 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.079 pct, the nine-month rate was 0.135 pct, the six-month rate was -0.219 pct, the three-month rate was -0.314 pct and the one-month rate was -0.372 pct.
ADEX closing report
The December contract on the FTSE/ASE Large Cap index was trading at a premium of 0.29 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 1,331 contracts with 9,604 open positions in the market. Volume in futures contracts on equities totaled 73,112 contracts with investment interest focusing on Piraeus Bank’s contracts (31,283), followed by Alpha Bank (7,664), National Bank (15,875), Eurobank (12,725), MIG (1,720), OTE (792), PPC (461), OPAP (170), Mytilineos (1,856), Hellenic Petroleum (193).