Greek stocks ended sharply higher in the Athens Stock Exchange

Greek stocks ended sharply higher in the Athens Stock Exchange on Tuesday, extending Monday’s rally on market hopes that the Greek government was near an agreement with its creditors on concluding a second review of the Greek bailout program.

The composite index of the market surpassed the 660-point level, supported by strong buying interest for bank shares. The index jumped 2.78 pct to end at 664.52 points, with the Large Cap index rising 2.94 pct and the Mid Cap index rising 1.23 pct. Turnover was an improved 55.011 million euros in volume of 84,218,562 shares.

Ellaktor (8.62 pct), Piraeus Bank (7.45 pct), Eurobank (6.87 pct), Alpha Bank (6.02 pct) and National Bank (4.42 pct) scored the biggest percentage gains of the day among blue chip stocks, while only Mytilineos Group (-0.70 pct) suffered losses. Among market sectors, only Raw Materials ended lower (-0.70 pct), while Banks (6.04 pct), Construction (3.64 pct) and Financial Services (3.23 pct) suffered losses.

National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 77 to 24 with another 35 issues unchanged. Alpha Astika (19.92 pct), Vioter (19.70 pct) and Lazaridis Estate (19.06 pct) were top gainers, while Alpha Grisin (17.65 pct), Nakas (9.28 pct) and AEGEK (8.33 pct) were top losers.

ADEX closing report

The April contract on the FTSE/ASE Large Cap index was trading at a premium of 0.21 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 11,588 contracts with 8,012 open positions in the market.

Volume in futures contracts on equities totaled 99,884 contracts with investment interest focusing on National Bank’s contracts (47,295), followed by Alpha Bank (11,039), Piraeus Bank (23,404), Eurobank (12,387), MIG (2,087), OTE (331), PPC (304), OPAP (182), Viohalco (128), Mytilineos (1,025), Hellenic Petroleum (378), Ellaktor (870), Intralot (135).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds shrank to 6.72 pct in the domestic electronic secondary bond market on Tuesday, from 6.99 pct the previous day, with the Greek bond yielding 7.10 pct and the German Bund yielding 0.38 pct. Turnover was a thin 1.0 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.111 pct, the nine-month rate was -0.172 pct, the six-month rate rose to -0.242 pct from -0.245 pct, the three-month rate was -0.330 pct and the one-month rate rose to -0.373 pct from -0.379 pct.