Greek stocks continued moving higher, extending their rally for the sixth successive session in the Athens Stock Exchange on Wednesday.
Traders said the market easily absorbed an early profit taking selling activity after a five-day rally which pushed the composite index up 9.17 pct and the bank index up 31.18 pct. The index ended 0.21 pct higher at 632.52 points, after falling as much as 0.74 pct early in the day. The index is now up 9.40 pct in the last six sessions, having covered all of the losses suffered so far this year. The Large Cap index eased 0.06 pct and the Mid Cap index ended 1.71 pct higher. Turnover was a moderate 76.516 million euros in volume of 159,842,966 shares.
Jumbo (3.23 pct), GEK Terna (2.23 pct) and Folli Follie (2.16 pct) scored the biggest percentage gains of the day, while Hellenic Petroleum (3.21 pct), PPC (2.42 pct) and Athens Water (1.82 pct) suffered heavy losses. Bank shares eased on profit taking after scoring spectacular gains in the previous five sessions.
Among market sectors, Personal Products (2.69 pct), Commerce (2.16 pct) and Financial Services (2.11 pct) scored big gains, while Oil (1.73 pct) and Utilities (1.67 pct) suffered losses. National Bank and Piraeus Bank were the most heavily traded securities of the day.
Broadly, advancers led decliners by 58 to 49 with another 12 issues unchanged. Pegasus (19.74 pct), Vioter (18.60 pct) and Trastor (14.34 pct) were top gainers, while Sato (20 pct), Pasal (20 pct) and Kordellos Bros (9.92 pct) were top losers.
ADEX closing report
The December contract on the FTSE/ASE Large Cap index was trading at a discount of 0.05 pct in the Athens Derivatives Exchange on Wednesday. Volume on the Big Cap index totaled 1,913 contracts with 9,156 open positions in the market. Volume in futures contracts on equities totaled 94,512 contracts with investment interest focusing on National Bank’s contracts (39,304), followed by Alpha Bank (5,195), Piraeus Bank (28,349), Eurobank (7,968), MIG (9,303), OTE (674), PPC (1,077), OPAP (655), Mytilineos (441), Hellenic Petroleum (111), Metka (121), GEK Terna (232), Ellaktor (572), Folli Follie (139).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds eased slightly to 6.675 pct in the domestic electronic secondary bond market on Wednesday, from 6.73 pct the previous day, with the Greek bond yielding 6.96 pct and the German Bund yielding 0.29 pct. Turnover totaled 8.0 million euros.
In interbank markets, interest rates were mixed. The 12-month rate rose to -0.078 pct from -0.079 pct, the nine-month rate fell to -0.136 pct from -0.135 pct, the six-month rate was -0.22 pct, the three-month rate was -0.313 pct and the one-month rate was -0.373 pct.