Greek stocks ended sharply higher in the Athens Stock Exchange on Friday

Greek stocks ended sharply higher in the Athens Stock Exchange on Friday with the composite index of the market rising above the 620-point level on market expectations that a meeting between Greek Finance Minister Euclid Tsakalotos and representative of the institutions in Brussels will have a positive outcome. Bank share were at the focus of buying activity.

The composite index rose 2.46 pct to end at 623.79 points, off the day’s highs of 3.12 pct. The index ended the week with a net loss of 0.82 pct, for a decline of 3.08 pct so far this year. The Large Cap index rose 2.54 pct and the Mid Cap index rose 1.78 pct. Turnover was an improved 61.728 million euros in volume of 115,289,463 shares.

Sarantis (2.22 pct) and Grivalia Properties (0.39 pct) were the only blue chip stocks to end lower, while Piraeus Bank (9.32 pct), Eurobank (7.74 pct), Viohalco (6.96 pct), National Bank (6.57 pct) and Ellaktor (5.66 pct) scored the biggest percentage gains of the day. All sector indices ended higher led by Banks (6.61 pct), Financial Services (3.35 pct), Utilities (2.48 pct) and Telecoms (1.78 pct). National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 70 to 37 with another 30 issues unchanged. Chatzikraniotis (18.42 pct), Dionic (17.36 pct) and GE Demetriou (16.67 pct) were top gainers, while Mermeren (17.49 pct), FG Europe (9.27 pct) and Chaidemenos (9.24 pct) were top losers.

ADEX closing report

The February contract on the FTSE/ASE Large Cap index was trading at a discount of 0.20 pct in the Athens Derivatives Exchange on Friday. Volume on the Big Cap index totaled 3,402 contracts with 9,000 open positions in the market. Volume in futures contracts on equities totaled 106,262 contracts with investment interest focusing on National Bank’s contracts (46,093), followed by Alpha Bank (11,968), Piraeus Bank (26,839), Eurobank (15,875), MIG (2,119), OTE (258), PPC (612), OPAP (213), Hellenic Exchanges (170), Viohalco (1,131), Mytilineos (473) and Ellaktor (268).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds eased to 7.39 pct in the domestic electronic secondary bond market on Friday. The Greek bond yielded 7.71 pct and the German Bund yielded 0.32 pct. Turnover was a thin 2.0 million euros, all buy orders.

In interbank markets, interest rates were largely unchanged. The 12-month rate rose to -0.101 pct from -0.102 pct, the nine-month rate fell to -0.161 pct from -0.159 pct, the six-month rate was -0.242 pct, the three-month rate was -0.328 pct and the one-month rate was -0.373 pct.