Greek stocks moved higher in the Athens Stock Exchange on Tuesday

Greek stocks moved higher in the Athens Stock Exchange on Tuesday, the day after ESM approved a package of short-term relief measures on Greek debt. Bank shares were at the focus of buying interest. The composite index of the market rose 1.13 pct to end at 646.51 points, off the day’s highs of 648.98 points. The Large Cap index rose 0.98 pct and the Mid Cap index jumped 2.26 pct. Turnover was an improved 45.449 million euros in volume of 62,602,572 shares.

Piraeus Bank (3.63 pct), Eurobank (3.20 pct) and Ellaktor (2.63 pct) scored the biggest percentage gains among blue chip stocks, while Sarantis (1.14 pct), Coca Cola HBC (0.62 pct) and Aegean Airlines (0.30 pct) suffered losses. Among market sectors, Banks (2.27 pct), Utilities (1.92 pct) and Raw Materials (1.26 pct) scored big gains, while Food (0.61 pct) and Technology (0.03 pct) suffered losses.

National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 68 to 41 with another 19 issues unchanged. Lazaridis Estate (28.44 pct), Kreka (20 pct) and Pasal (19.05 pct) were top gainers, while Pegasus (16.22 pct), Mermeren (15.19 pct) and Livanis Publications (12.5 pct) were top losers.

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds eased slightly to 6.64 pct in the domestic electronic secondary bond market on Tuesday, from 6.72 pct the previous day, with the Greek bond yielding 7.02 pct and the German Bund yielding 0.38 pct. There was no turnover in the market.

In interbank markets, interest rates continued moving lower. The 12-month rate fell to -0.102 pct from -0.101 pct, the nine-month rate fell to -0.160 pct from -0.155 pct, the six-month rate eased to -0.245 pct from -0.241 pct, the three-month rate fell to -0.333 pct from -0.327 pct and the one-month rate fell to -0.377 pct.