Greek stocks ended strongly higher in the Athens Stock Exchange on Tuesday with market sentiment boosted by the positive results of a Eurogroup meeting and the return of the institutions for talks in Athens next week. Buying activity focused on selected shares such as OPAP, OTE, National Bank and Folli Follie, pushing the composite index of the market above the 650-point level. The index rose 1.43 pct to end at 655.20 points, off the day’s highs of 660.56 points. The index continued moving upwards for the fourth successive sessions gaining 4.62 pct. The Large Cap index rose 1.62 pct and the Mid Cap index ended 0.30 pct higher. Turnover was an improved 66.668 million euros in volume of 110,712,587 shares.
OPAP (4.02 pct), OTE (3.44 pct) and National Bank (3.38 pct) scored the biggest percentage gains of the day among blue chip stocks, while Viohalco (2.23 pct) and Alpha Bank (1.09 pct) suffered losses. All sectors moved higher led by Travel (3.48 pct), Telecoms (3.44 pct) and Commerce (3.14 pct).
Piraeus Bank and National Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 68 to 36 with another 31 issues unchanged. Nakas (29.98 pct), Chatzikraniotis (20 pct) and AEGEK (18.42 pct) were top gainers, while Sato (19.44 pct), Pegasus (19.05 pct) and Levenderis (12.23 pct) were top losers.
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds shrank significantly to 6.91 pct in the domestic electronic secondary bond market on Tuesday, from 7.40 pct on Monday, with the Greek bond yielding 7.22 pct and the German Bund yielding 0.31 pct. Traders said the market reacted positively to news of an agreement reached in a Eurogroup meeting on Monday for a resumption of negotiations between Greek authorities and its creditors. Turnover was a thin 1.0 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate fell to -0.111 pct from -0.109 pct, the nine-month rate was -0.171 pct from -0.169 pct, the six-month rate was -0.238 pct, the three-month rate was -0.329 pct and the one-month rate fell to -0.370 pct from -0.369 pct.
ADEX closing report
The March contract on the FTSE/ASE Large Cap index was trading at a discount of 0.11 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 3,607 contracts with 7,709 open positions in the market. Volume in futures contracts on equities totaled 110,014 contracts with investment interest focusing on National Bank’s contracts (45,223), followed by Alpha Bank (9,434), Piraeus Bank (38,175), Eurobank (11,278), MIG (1,467), OTE (1,201), PPC (914), OPAP (738), Viohalco (130), Mytilineos (611), Hellenic Petroleum (337), GEK Terna (163).