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

Greek stocks ended significantly higher in the Athens Stock Exchange on Monday, boosted by market optimism that Greek authorities and its creditors will reach an agreement on concluding a second review of the Greek bailout programme. Investment interest focused on bank shares. The composite index of the market jumped 1.72 pct to end at 646.57 points, off the day’s highs of 651.37 points. The Large Cap index rose 1.45 pct and the Mid Cap index rose 1.64 pct. Turnover was a low 31.865 million euros in volume of 50,422,529 shares.

Piraeus Bank (7.33 pct), National Bank (6.10 pct) and Eurobank (4.80 pct) scored the biggest percentage gains of the day, while Coca Cola HBC (0.89 pct), GEK Terna (0.87 pct) and Lamda Development (0.43 pct) suffered heavy losses.

Among market sectors, Banks (5.34 pct), Utilities (3.28 pct) and Oil (1.56 pct) scored big gains, while Food (0.89 pct) and Real Estate (0.23 pct) suffered losses.

National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 68 to 35 with another 35 issues unchanged. Vioter (15.79 pct), Lavipharm (10.71 pct) and Alpha Trust (10 pct) were top gainers, while Sfakianakis (19.97 pct), Yalco (18.18 pct) and Kreka (18.18 pct) were top losers.

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds widened slightly to 6.99 pct in the domestic electronic secondary bond market on Monday, from 6.90 pct on Friday, with the Greek bond yielding 7.27 pct (7.32 pct on Friday) and the German Bund yielding 0.38 pct. Turnover was a thin 1.0 million euros.

In interbank markets, interest rates moved lower. The 12-month rate fell to -0.111 pct from -0.107 pct, the nine-month rate was -0.174 pct, the six-month rate was -0.245 pct, the three-month rate was -0.335 pct and the one-month rate was -0.379 pct.