Greek stocks ended lower in the Athens Stock Exchange on Wednesday, after a three-day rally that led to cumulative gains of 4.03 pct over the last three sessions. Banks and PPC stock came under pressure as the mood soured, affected by bad news from the bond market, with a low turnover as investors waited for the outcome of Greece’s negotiations with the country’s creditors.
The composite index of the market fell 1.11 pct to end at 626.29 points, up from losses of 2.06 pct earlier in the session. Turnover was a low 36.425 million euros in a volume of 97.8 million shares. The Large Cap index fell 1.06 pct and the Mid Cap index ended 0.97 pct lower.
Titan (1.07 pct), Motor Oil (0.86 pct) and Grivalia Properties (0.75 pct) scored the biggest percentage gains of the day among blue chip stocks, while Piraeus Bank (-4.97 pct), Eurobank (-4.56 pct) and National Bank (-3.91 pct) suffered the largest losses.
National Bank and Piraeus Bank were the most heavily traded securities of the day. Decliners outpaced advancers by 66 to 33, with another 24 issues remain unchanged.
Among market sectors, Construction (0.53 pct) and Oil and Gas (0.47 pct) scored big gains, while Banks (-3.30 pct) and Public Utilities (-2.34 pct) suffered the greatest losses. AXON Holdings (15.00 pct), Pairis (11.11 pct) and Motodynamiki (8.97 pct) were top gainers, while Moda Bagno (-28.89 pct), Nakas (-8.78 pct) and Xylemporia (-7.89 pct) were top losers.
Greek bond market closing report
Greek bond yields rose further on Wednesday, on concerns about the outcome of negotiations between Greek authorities and its creditors to complete a second review of the Greek programme. The 10-year Greek benchmark bond yielded 7.69 pct from 7.45 pct on Tuesday, and the German Bund yielded 0.37 pct, with the yield spread between the Greek and German bonds rising to 7.32 pct. Turnover was a thin 1.0 million euros, representing one transaction.
In interbank markets, interest rates were largely unchanged. The 12-month rate fell to -0.104 pct from -0.102 pct, the nine-month rate fell to -0.164 pct from -0.163 pct, the six-month rate fell to -0.241 pct from 0.24 pct, the three-month rate rose to -0.328 pct from -0.329 pct and the one-month rate was -0.373 pct.