Greek stocks plunged in the Athens Stock Exchange on Wednesday, hit by uncertainty over a delay in concluding a second review of the Greek bailout programme. The composite index of the market fell 2.01 pct to end at 610.86 points, with turnover rising to 64 million euros, in a volume of 150.3 million shares.
The Large Cap index dropped 1.63 pct and the Mid Cap index ended 2.63 pct lower. Hellenic Bottling (1.78 pct), Jumbo (0.60 pct) and OPAP (0.24 pct) scored big gains among blue chip stocks, while Piraeus Bank (7.91 pct), Alpha Bank (6.43 pct) and Eurobank (5.62 pct) suffered the heaviest percentage losses of the day. Among market sectors, Media (5.95 pct) and Food/Beverage (1.77 pct) scored big gains, while Banks (5.89 pct) and Utilities (2.63 pct) suffered heavy losses. Alpha Bank and National Bank were the most heavily traded securities of the day.
Broadly, decliners led advancers by 68 to 24 with another 150 issues unchanged. Kepenou Mills (9.49 pct), Audiovisual (5.95 pct) and Kekrops (4.93 pct) were top gainers, while Moda Bagno (30 pct), Nakas (8.89 pct) and Paperpack (8.0 pct) were top losers.
Greek bond market closing report
Greek state bonds remained under pressure on concern about the outcome of negotiations to conclude a second review of the Greek programe. The yield spread between the 10-year Greek and German benchmark bonds widened slightly to 7.44 pct in the domestic electronic secondary bond market on Wednesday, from 7.43 pct the previous day, with the Greek bond yielding 7.73 pct and the German Bund yielding 0.29 pct. There was no turnover in the market.
In interbank markets, interest rates were largely unchanged. The 12-month rate rose to -0.101 pct, the nine-month was -0.161 pct from -0.159 pct, the six-month rate was -0.242 pct, the three-month rate was -0.328 pct and the one-month rate was -0.373 pct.