Greek stocks rally for seventh day in a row in the Athens Stock Exchange

Greek stocks extended their rally for the seventh successive session in the Athens Stock Exchange on Wednesday, pushing the general index of the market near the 748.61 points. The index ended 2.0 pct higher at 748.61 points, its highest closing since June 26, 2015 (797.52 points). The index is up 11.47 pct in the last seven sessions. The Large Cap index rose 2.20 pct and the Mid Cap index eased 0.17 pct. Turnover was a heavy 105.265 million euros in volume of 142,027,245 shares.

Alpha Bank (7.73 pct), PPC (6.15 pct), Folli Follie (5.0 pct) and Jumbo (3.50 pct) scored the biggest percentage gains among blue chip stocks, while Ellaktor (11.33 pct), Aegean Airlines (1.0 pct) and Piraeus Port (0.68 pct) suffered heavy losses. Among market sectors, Commerce (5.0 pct), Banks (4.24 pct) and Utilities (4.22 pct) scored big gains and Construction (-1.49 pct) was the only one to end lower. National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 63 to 46 with another 25 issues unchanged. Euroconsultants (10.89 pct), Nexans (8.58 pct) and Lazaridis Estate (8.33 pct) were top gainers, while Sfakianakis (19.97 pct), Bitros (16.82 pct) and Forthnet (15.90 pct) were top losers.

ADEX closing report

The May contract on the FTSE/ASE Large Cap index was trading at a premium of 0.05 pct in the Athens Derivatives Exchange on Wednesday. Volume on the Big Cap index totaled 3,233 contracts with 8,326 open positions in the market. Volume in futures contracts on equities totaled 117,136 contracts with investment interest focusing on Piraeus Bank’s contracts (57,730), followed by Alpha Bank (9,939), National Bank (27,094), Eurobank (12,330), MIG (2,212), OTE (1,009), PPC (1,221), OPAP (405), Hellenic Exchanges (248), Viohalco (367), Mytilineos (322), Hellenic Petroleum (174), GEK Terna (571), Ellaktor (2,207), Jumbo (268), Intralot (541), Folli Follie (155) and Cenergy (127).

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bonds shrank further to 5.76 pct in the domestic electronic secondary bond market on Wednesday, from 5.82 pct the previous day, with the Greek bond yielding 6.07 pct (off the day’s lows of 5.97 pct) from 6.13 pct on Tuesday and the German Bund yielding 0.31 pct. Turnover was an improved 6.0 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was -0.121 pct, the nine-month rate was -0.178 pct, the six-month rate was-0.247 pct, the three-month rate was -0.328 pct and the one-month rate was -0.373 pct.