Greek stocks ended strongly higher in the Athens Stock Exchange on Wednesday

Greek stocks ended strongly higher in the Athens Stock Exchange on Wednesday, combined with a significant increase in turnover. Market analysts said investors anticipated a positive outcome in negotiations in Thursday’s Eurogroup meeting, paving the way for a successful conclusion of the second review of the Greek programe.

The composite index rose 1.96 pct to end at 659.19 points, off the day’s highs of 2.84 pct. The Large Cap index grew 1.99 pct and the Mid Cap index rose 1.35 pct. Turnover was an improved 76.382 million euros in volume of 139,428,335 shares.

Piraeus Bank (9.50 pct), National Bank (7.88 pct) and Eurobank (6.51 pct) scored the biggest percentage gains among blue chip stocks while Motor Oil (1.56 pct), Jumbo (1.42 pct) and Ellaktor (0.85 pct) suffered heavy losses. Among market sectors, Banks (6.48 pct), Raw Materials (2.96 pct) and Industrial Products (2.03 pct) scored big gains, while Personal Products (1.02 pct) and Oil (0.79 pct) suffered losses. National Bank and Piraeus Bank were the most heavily traded securities of the day.

Broadly, advancers led decliners by 72 to 48 with another 22 issues unchanged. Kreka (19.61 pct), AXON Holdings (16.67 pct) and Livanis Publications (14.29 pct) were top gainers, while Intertek (30 pct), Medicon (19.88 pct) and Akritas (18.01 pct) suffered heavy losses.

ADEX closing report

The February contract on the FTSE/ASE Large Cap index was trading at a premium of 0.16 pct in the Athens Derivatives Exchange on Wednesday. Volume on the Big Cap index totaled 2,250 contracts with 7,784 open positions in the market. Volume in futures contracts on equities totaled 100,456 contracts with investment interest focusing on Piraeus Bank’s contracts (34,928), followed by Alpha Bank (8,054), National Bank (33,755), Eurobank (15,593), MIG (2,737), OTE (409), PPC (450), OPAP (329), Viohalco (134), Mytilineos (3,015), Hellenic Petroleum (275), GEK Terna (154), Ellaktor (159), Jumbo (112).