Greek stocks edged higher on Tuesday

Greek stocks edged higher in the Athens Stock Exchange on Tuesday, helped by renewed buying interest for bank shares. The general index of the market rose 0.25 pct to end at 726.17 points, off the day’s highs of 730.53 points. The Large Cap index ended 0.16 pct higher and the Mid Cap index ended 0.53 pct up. Turnover was a thin 41.411 million euros in volume of 35,356,241 shares.

Alpha Bank (5.44 pct), Eurobank (3.65 pct), Piraeus Bank (3.48 pct) and National Bank (3.35 pct) scored big gains among blue chip stocks, while Jumbo (4.85 pct), Motor Oil (2.39 pct) and Hellenic Exchanges (2.21 pct) suffered heavy losses. Among market sectors, Banks (4.25 pct) and Technology (1.33 pct) scored gains, while Personal Products (3.79 pct) and Oil (2.10 pct) suffered losses.

National Bank and Eurobank were the most heavily traded securities of the day. Broadly, advancers led decliners by 55 to 48 with another 18 issues unchanged. Euromedica (20 pct), Pasal (20 pct) and Dionic (20 pct) were top gainers, while Ideal (9.43 pct), Flexopack (8.47 pct) and Kyriakoulis (8.31 pct) were top losers.

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds was almost unchanged at 5.03 pct in the domestic electronic secondary bond market on Tuesday, from 5.02 pct the previous day, with the Greek bond yielding 5.37 pct (5.33 pct on Monday) and the German Bund yielding 0.34 pct. Turnover was a thin 4.0 million euros.

In interbank markets, interest rates moved slightly higher. The 12-month rate rose to -0.185 pct from -0.186 pct, the nine-month rate was -0.281 pct, the six-month rate rose to -0.273 pct from -0.274 pct, the three-month rate was -0.328 pct and the one-month rate was -0.372 pct.