Greek stocks ended sharply lower in the ASE on Monday

Greek stocks ended sharply lower in the Athens Stock Exchange on Monday, with the market negatively reacting to news of a lower-than-expected GDP growth rate in 2017. The general index fell below the 800-point level to its lowest levels since December 21, 2017. The index ended 2.29 pct lower at 794.51 points.

The Large Cap index fell 1.99 pct and the Mid Cap index ended 2.67 pct down. Turnover was a low 55.719 million euros in volume of 40,765,379 shares. Coca Cola HBC (1.12 pct) and Sarantis (0.35 pct) scored big gains among blue chip stocks, while Lamda Development (5.34 pct), Titan (3.92 pct), National Bank (3.73 pct) and Eurobank (3.72 pct) suffered heavy losses. Among market sectors, Health (1.79 pct) and Food (1.09 pct) scored big gains, while Technology (4.81 pct), Construction (3.57 pct) and Telecoms (3.54 pct) suffered losses. National Bank and Eurobank were the most heavily traded securities of the day. Broadly, decliners led advancers by 91 to 18 with another 15 issues unchanged. Intertek (7.11 pct), Frigoglass (3.24 pct) and Quest Holdings (2.82 pct) were top gainers, while Douros (20 pct), Sidma (20 pct) and Euromedica (19.72 pct) were top losers.

ADEX closing report

The March contract on the FTSE/ASE Large Cap index were trading at a premium of 0.02 pct in the Athens Derivatives Exchange on Monday. Volume on the Big Cap index totaled 2,573 contracts with 14,066 open positions in the market. Volume in futures contracts on equities totaled 91,634 contracts with investment interest focusing on National Bank’s contracts (54,073), followed by Alpha Bank (3,528), Piraeus Bank (3,366), Eurobank (7,392), MIG (4,513), OTE (1,193), PPC (999), ADMIE (337), OPAP (617), Hellenic Exchanges (152), Viohalco (562), Hellenic Petroleum (430), GEK Terna (8,060), Ellaktor (830), Jumbo (149), Intralot (679), Intracom (363), Terna Energy (2,376), Cenergy (468).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds eased to 3.78 pct in the domestic electronic secondary bond market on Monday from 3.83 pct on Friday, with the Greek bond yielding 4.30 pct (4.45 pct last week) and the German Bund yielding 0.62 pct. Turnover was a strong 23 million euros of which 13 million were buy orders.

In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.191 pct, the nine-month rate was -0.223 pct, the six-month rate was -0.272 pct, the three-month rate was -0.329 pct and the one-month rate was -0.370 pct.