Greek stocks ended slightly higher in the Athens Stock Exchange on Tuesday

Greek stocks ended slightly higher in the Athens Stock Exchange on Tuesday, as a wave of selling that hit bank shares significantly reduced early bigger gains. The composite index rose 0.42 pct to end at 623.37 points, off the day’s highs of 628.09 points. The Large Cap index rose 0.32 pct and the Mid Cap index ended 0.78 pct higher. Turnover was an improved 41.583 million euros in volume of 58,374,683 shares.

Viohalco (6.76 pct), Metka (3.55 pct) and Piraeus Port (3.17 pct) scored the biggest percentage gains of the day, while Alpha Bank (2.29 pct), Eurobank (1.60 cpt) and National Bank (0.45 pct) suffered heavy losses. Among market sectors, Industrial Products (4.05 pct), Financial Services (1.93 pct) and Raw Materials (1.80 pct) scored big gains, while Banks (1.36 pct) and Personal Products (0.09 pct) suffered losses.

National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 49 to 33 with another 34 issues unchanged. AXON Holdings (19.05 pct), Dionic (14.44 pct) and Vioter (12 pct) were top gainers, while Minerva (27.78 pct), Akritas (14.29 pct) and Kekrops (7.88 pct) were top losers.

ADEX closing report

The February contract on the FTSE/ASE Large Cap index was trading at a discount of 0.36 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 4,159 contracts with 7,528 open positions in the market. Volume in futures contracts on equities totaled 53,131 contracts with investment interest focusing on Piraeus Bank’s contracts (16,140), followed by Alpha Bank (6,977), National Bank (15,236), Eurobank (11,524), MIG (305), OTE (327), PPC (253), OPAP (448), Viohalco (437), Mytilineos (894), Hellenic Petroleum (123), Metka (101), GEK Terna (202).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds widened to 7.43 pct in the domestic electronic secondary bond market on Tuesday, from 7.10 pct on Monday. Traders said concern over developments in negotiations to conclude a second review of the Greek programme dampened sentiment in the market and pushed the two-year Greek bond yield to 9.73 pct. The 10-year Greek bond yielded 7.79 pct from 7.50 pct on Monday, while the German bund yielded 0.36 pct. There was no turnover in the market.

In interbank markets, interest rates were largely unchanged. The 12-month rate rose to -0.100 pct from -0.102 pct, the nine-month rate rose to -0.159 pct from -0.160 pct, the six-month rate was -0.243 pct, the three-month rate was -0.328 pct and the one-month rate was -0.372 pct.