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Greek stocks end down on profit taking

Greek stocks end down on profit taking

Greek stocks ended slightly lower in the Athens Stock Exchange on Wednesday, as profit taking selling reversed a four-day rally in the market which pushed the general index 2.92 pct higher. The index fell 0.59 pct to end at 836.28 points, off the day’s lows of 830.34 points.

The Large Cap index fell 0.65 pct and the Mid Cap index ended 0.65 pct lower. Turnover was an improved 71.073 million euros in volume of 64,997,768 shares. National Bank (1.96 pct), Viohalco (1.90 pct) and OPAP (0.28 pct) scored big gains among blue chip stocks, while ADMIE (3.47 pct), PPC (2.61 pct), Terna Energy (2.61 pct) and Piraeus Bank (2.58 pct) suffered heavy losses. Among market sectors, Health (0.51 pct), Industrial Products (0.27 pct) and Travel (0.12 pct) scored gains, while Technology (2.22 pct), Utilities (2.03 pct) and Food (1.67 pct) suffered losses. National Bank and Attica Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 60 to 54 with another 28 issues unchanged. Medicon (13.57 pct), Inform Lycos (10.84 pct) and Lazaridis Estate (10 pct) were top gainers, while Sato (19.40 pct), Intertek (12.76 pct) and G.E. Dimitriou (11.54 pct) were top losers.

Greek bond market closing report

The yield spread between the 10-year Greek and German benchmark bond shrank further to 3.14 pct in the domestic electronic secondary bond market on Wednesday, from 3.20 pct the previous day, with the Greek bond yielding 3.67 pct (3.65 pct on Tuesday) and the German Bund yielding 0.53 pct. Turnover were a strong 13 million euros of which 12 million euros were sell orders.

In interbank markets, interest rates moved higher. The 12-month rate rose to -0.186 pct from -0.187 pct, the nine-month rate rose to -0.220 pct from -0.223 pct, the six-month rate was -0.271 pct, the three-month rate was -0.329 pct and the one-month rate was -0.369 pct.

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