Greek stocks ended significantly higher

Greek stocks ended significantly higher in the Athens Stock Exchange on Wednesday pushing the composite index of the market closer to the 660-point level, with buying interest focusing on bank shares. Analysts said market sentiment was encouraged by information that German Chancellor Angela Merkel reassured ECB’s governor that she would do whatever necessary to conclude a second review of the Greek program in order to allow Greece to be included in the QE program.

The composite index rose 1.59 pct to end at 656.17 points, off the day’s highs of 658.81 points. The Large Cap index rose 1.36 pct and the Mid Cap index ended 3.37 pct higher. Turnover was an improved 60.068 million euros in volume of 103,447,931 shares.

NATIONAL BANK(5.0 pct), Alpha Bank (4.09 pct) and PPC (3.64 pct) were top gainers among blue chip stocks, while Hellenic Petroleum (0.85 pct), Coca Cola HBC (0.79 pct) and Metka (0.28 pct) suffered heavy losses. Among market sectors, Banks (3.89 pct), Utilities (2.31 pct) and Financial Services (2.24 pct) scored big gains, while Food (0.79 pct) and Travel (0.02 pct) suffered losses. National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 71 to 29 with another 28 issues unchanged. Vioter (19.44 pct), Chatzikraniotis (19.27 pct) and Nexans (10.53 pct) scored big gains while Akritas (13.86 pct), Kreka (11.67 pct) and FG Europe (9.43 pct) were top losers.

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds CONTINUEDshrinking for one more day in the domestic electronic secondary bond market on Wednesday, falling to 6.65 pct from 6.83 pct on Tuesday, with the Greek bond yield falling below the 7.0 pct barrier to 6.93 pct and the German Bund yield rising to 0.28 pct. Turnover was a thin 1.0 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.114 pct, the nine-month rate was -0.172 pct, the six-month rate was -0.237 pct from -0.239 pct, the three-month rate was -0.329 pct and the one-month rate was -0.372 pct.