Greek stocks extend rally for 11th session in the Athens Stock Exchange

Greek stocks extended their rally for the 11th successive session in the Athens Stock Exchange on Tuesday, pushing the general index of the market nearly 780-point level. Traders said market sentiment was encouraged by a new decline in Greek bond yields (the 10-year benchmark bond yield fell to September 2014 levels).

The index rose 1.96 pct to end at 778.37 points, after falling 0.98 pct early in the session, as the market easily absorbed a wave of profit-taking selling. The index is up 15.90 pct in the last 11 sessions. The Large Cap index ended 2.11 pct higher and the Mid Cap index rose 0.83 pct. Turnover was a heavy 141.628 million euros in volume of 154,840,538 shares.

Motor Oil (5.88 pct), Eurobank (4.73 pct) and National Bank (4.69 pct) scored the biggest percentage gains of the day among blue chip stocks, while Folli Follie (5.12 pct) and Jumbo (0.62 pct) suffered losses. Among market sectors, Oil (4.94 pct) and Banks (3.06 pct) scored big gains, while Commerce (5.12 pct) and Personal Products (0.57 pct) suffered losses. Piraeus Bank and National Bank were the most heavily traded securities.

Broadly, advancers led decliners by 81 to 34 with another 18 issues unchanged. Akritas (19.72 pct), Sidma (19.59 pct) and Progressive (13.21 pct) were top gainers, while Leventeris (13.86 pct), Sato (13.33 pct) and Forthnet (11.89 pct) were top losers.

ADEX closing report

The May contract on the FTSE/ASE Large Cap index was trading at a discount of 0.20 pct in the Athens Derivatives Exchange on Tuesday. Volume on the Big Cap index totaled 3,793 contracts with 6,879 open positions in the market. Volume in futures contracts on equities totaled 147,600 contracts with investment interest focusing on Piraeus Bank’s contracts (73,010), followed by Alpha Bank (6,521), National Bank (35,866), Eurobank (16,491), MIG (8,028), OTE (687), PPC (1,479), OPAP (363), Hellenic Exchanges (243), Viohalco (353), Mytilineos (565), Hellenic Petroleum (394), GEK Terna (817), Ellaktor (595), Piraeus Port (229), Intralot (296), Folli Follie (765) and Cenergy (107).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds eased slightly to 5.25 pct in the domestic electronic secondary bond market on Tuesday, with the Greek bond yielding 5.68 pct and the German Bund yielding 0.43 pct. Turnover was an improved 15 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.123 pct, the nine-month rate was -0.178 pct, the six-month rate was -0.249 pct, the three-month rate was -0.329 pct and the one-month rate was -0.374 pct.