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

Greek stocks ended significantly higher in the Athens Stock Exchange on Friday, boosted by market optimism over positive developments in negotiations to complete a second review of the Greek bailout program. The composite index of the market grew 1.60 pct to end at 639.46 points, off the day’s highs of 640.42 points. The index rose 2.51 pct in the week, but remained 0.65 pct lower from the start of the year. The Large Cap index grew 2.08 pct and the Mid Cap index ended 0.56 pct. Turnover was an improved 51.088 million euros in volume of 63,483,345 shares.

Eurobank (6.19 pct), PPC (4.30 pct) and Jumbo (4.28 pct) scored the biggest percentage gains among blue chip stocks, while Ellaktor (2.63 pct), Lamda Development (2.01 pct) and Folli Follie (1.01 pct) suffered heavy losses.
Among market sectors, Food (4.11 pct), Personal Products (3.26 pct) and Utilities (2.81 pct) scored big gains, while Commerce (1.01 pct), Construction (0.66 pct) and Real Estate (0.07 pct) suffered losses.

National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 67 to 29 with another 42 issues unchanged. Moda Bagno (28.57 pct), Alumil (22.45 pct) and GE Demetriou (20 pct) were top gainers, while Lazaridis Estate (16.38 pct), Xylemporia (14.29 pct) and Lavipharm (11.76 pct) were top losers.

ADEX closing report

The March contract on the FTSE/ASE Large Cap index was trading around its fair value after the expiration of the February contract in the Athens Derivatives Exchange on Friday. Volume on the Big Cap index totaled 2,683 contracts with 7,395 open positions in the market. Volume in futures contracts on equities totaled 76,934 contracts with investment interest focusing on National Bank’s contracts (29,245), followed by Alpha bank (8,041), Piraeus Bank (25,023), Eurobank (10,972), MIG (1,504), OTE (259), PPC (444), OPAP (222), Viohalco (357), Mytilineos (161), Hellenic Petroleum (102), Ellaktor (180) and Jumbo (124).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds was almost unchanged to 7.48 pct in the domestic electronic secondary bond market on Friday, from 7.49 pct the previous day, with the Greek bond yielding 7.78 pct and the German Bund yielding 0.30 pct. Turnover was an improved 4.0 million euros, of which 3.0 million were sell orders and the remaining 1.0 million euro was a buy order.

In interbank markets, interest rates moved lower. The 12-month rate fell to -0.109 pct from -0.106 pct, the nine-month rate fell to -0.169 pct from -0.166 pct, the six-month rate was -0.239 pct, the three-month rate was -0.329 pct and the one-month rate was -0.371 pct.