Greek stocks ended significantly higher for the second session in a row in the Athens Stock Exchange on Tuesday, reflecting improved market expectations over the outcome of a new round of negotiations between Greek authorities and its creditors to conclude a second review of the Greek bailout program.
The composite index of the market jumped 2.05 pct to end at 697.32 points, with the Large Cap index rising 1.98 pct and the Mid Cap index ending up 1.69 pct. Turnover was an improved 79.75 million euros in volume of 125.1 million euros.
Eurobank (7.87 pct), National Bank (6.08 pct) and Piraeus Bank (4.0 pct) scored the biggest percentage gains of the day among blue chip stocks, while Titan (1.25 pct), Hellenic Petroleum (0.95 pct) and Metka (0.43 pct) suffered losses. Among market sectors, Banks (5.19 pct) and Financial Services (2.23 pct) scored big gains, while Construction (0.46 pct) and Food/Beverage (0.04 pct) suffered losses.
National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 72 to 35 with another 136 issues unchanged. Dromeas (24.22 pct), Unibios (16.11 pct) and European Credit (15.22 pct) were top gainers, while Moda Bagno (8.81 pct), Euroconsultants (6.43 pct) and Mathios (5.68 pct) were top losers.
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds shrank further to 6.05 pct in the domestic electronic secondary bond market on Tuesday, from 6.15 pct the previous day, with the Greek bond yielding 6.42 pct (6.49 pct on Monday) – falling to a year-low of 6.32 pct in intraday trading – and the German Bund yielding 0.37 pct. There was no turnover in the market.
In interbank markets, interest rates were mixed. The 12-month rate was -0.121 pct, the nine-month rate was -0.178 pct, the six-month rate rose to -0.247 pct from -0.249 pct, the three-month rate was -0.329 pct from -0.332 pct and the one-month rate was -0.371 pct
