Greek stocks ended sharply higher on the Athens Stock Exchange on Friday, pushing the composite index of the market above the 1,900 level. The index rose 2.42 pct to end at 1,927.62 points, with turnover remaining a low 146.220 million euros. The FTSE 20 index rose 2.76 pct, the FTSE 40 index ended 0.90 pct higher and the FTSE 80 index rose 1.30 pct. The Banks (3.85 pct) and Food (3.47 pct) sectors scored the biggest percentage gains of the day, while Personal Products (0.33 pct) and Health (0.31 pct) suffered losses.
CPI (16.67 pct), Mihaniki (13.95 pct), Ilyda (9.57 pct), Crete Plastics (9.37 pct) and Voyatzoglou (8.80 pct) were top gainers, while Alma-Atermon (14.29 pct), Compucon (11.11 pct), Praxitelio (10.0 pct) and Elfico (8.89 pct) were top losers. Broadly, advancers led decliners by 114 to 61 with another 53 issues unchanged.
Sector indices ended as follows:
Oil & Gas: +0.83%
Personal & Household: -0.33%
Raw Materials: +2.09%
Travel & Leisure: +1.08%
Food & Beverages: +3.47%
Financial Services: +0.51%
The stocks with the highest turnover were National Bank, Marfin Popular Bank, Eurobank and Alpha Bank.
Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank: 6.72
Public Power Corp (PPC): 12.19
HBC Coca Cola: 16.99
Hellenic Petroleum: 8.50
National Bank of Greece: 14.00
EFG Eurobank Ergasias: 5.70
Bank of Piraeus: 6.17
ADEX closing report
The March contract on the FTSE 20 index was trading around its fair value in the Athens Derivatives Exchange on Friday, with turnover falling to 64.500 million euros. Volume on the Big Cap index totaled 11,289 contracts worth 53.122 million euros, with 33,829 open positions in the market.
Volume in futures contracts on equities totaled 13,827 contracts worth 11.378 million euros, with investment interest focusing on National Bank’s contracts (3,857), followed by Eurobank (1,005), MIG (710), Piraeus Bank (1,573), Alpha Bank (2,392), Marfin Popular Bank (722), Cyprus Bank (377) and Hellenic Postbank (394).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds fell to 319 basis points in the Greek electronic secondary bond market on Friday, with the Greek bond yielding 6.46 pct and the German Bund 3.27 pct. Turnover in the market was around 1.0 billion euros.
In interbank markets, interest rates were largely unchanged. The 12-month Euribor rate was 1.24 pct, the six-month rate 0.99 pct, the three-month 0.71 pct and the one-month rate 0.48 pct.
Foreign Exchange rates
U.S. dollar 1.362
Pound sterling 0.885
Danish kroner 7.502
Swedish kroner 9.924
Japanese yen 125.16
Swiss franc 1.477
Norwegian kroner 8.170
Canadian dollar 1.432
Australian dollar 1.529
****In an announcement, the credit ratings agency said its revising its position on whether Greece’s state risk could affect ratings of Greek securitized bonds.
S&P said the Greek economy could growth slower in the medium-term compared with earlier estimates.
Also, Moody’s credit rating said it was putting almost all Greek structured financial transactions and covered bonds under review for a possible downgrade from its AAA status. These transactions cover nine structured ABS products, eleven RMBS products, two CLO products and on covere bonds program, all enjoying the guarantee of Greek banks’ mortgage loans.
**** Greece’s current accounts deficit shrank by 23.3 pct in 2009 to 26.7 billion euros, or 10.8 pct of the country’s Gross Domestic Product, the Bank of Greece said on Friday. The central bank, in a report, attributed this development to a large decline in the trade deficit and to a lesser extent to a reduction of the incomes deficit, while the services and current transfers surpluses also fell in the year.
The trade deficit fell by 13.3 billion euros in 2009, reflecting a decline in the trade deficit in goods – excluding fuel and ships – by 7.4 billion euros, net payments for fuel imports (4.6 bln) and net payments on ship purchases (1.3 billion).
Net import payments fell by 9.9 billion euros, or 24 pct, while export revenues fell by 2.5 billion euros or 17.8 pct in the year. The Bank of Greece said foreign capital inflows in the domestic primary and secondary state bond market totaled 31 billion euros in 2009.
The services surplus fell by 4.6 billion euros, reflecting lower net revenues from transport and travel services (down by 3.4 billion and 1.1 billion, respectively). Net payments for “other” services grew by 121 million euros.
The incomes deficit fell by 840 million euros, reflecting lower net payments on interest, dividends and earnings because of adverse developments in international and domestic money and capital markets. The current transfers surplus fell by 1.5 billion euros in 2009. Direct foreign investments recorded a net inflow of 1.1 billion euros.
***** Greece’s average per capita Gross Domestic Product (GDP) totaled 92.8 pct of the EU average in 2007, Eurostat said on Thursday. In a report, the EU executive’s statistics agency, said that seven Greek regions were below the 75 pct average community per capita GDP, namely, Western Greece (59.7 pct), Eastern Macedonia/Thrace (62.1 pct), the Northern Aegean (66.6 pct), Thessaly (68.2 pct), Epirus (68.3 pct), Central Macedonia (72.4 pct) and the Ionian islands (73.9 pct).
Attica prefecture (128.1 pct), the Southern Aegean (96.2 pct), Central Greece (83.9 pct), Crete (83.7 pct), Western Macedonia (75.8 pct) and the Peloponnese (75.7 pct) recorded the highest per capita GDP rates in the country.
A total of 20 regions with the lowest per capita GDP were located in Romania, Bulgaria, Poland and Hungary, while a total of 66 European regions were below the 75 pct average per capita GDP in 2007. The City of London (334 pct), Luxembourg (275 pct), Brussels (221 pct) and Hamburg (192 pct) were the regions with the highest per capita GDP.
**** Greece’s harmonised inflation rate rose 2.3 pct in January, up from 2.0 pct in January 2009, the National Statistical Service announced on Thursday.
The statistical service, in a report, said the country’s harmonised inflation rate, measured by the consumer’s price index, fell 0.8 pct in January from December, after a decline of 0.5 pct recorded in the corresponding period last year.
**** Ioannis Plotas, the Greek General Consul in Moscow, stated in this year’s first interview on the promotion of Greek tourism that was hosted by the Interfax news agency, that a 14 percent decrease was registered in the issuing of entry visas from the Consulate in Moscow, a percentage reflecting last year’s difficulties for the tackling of which a coordinated effort is being made to minimise the repercusions of the crisis.
Plotas reminded Russian reporters that tourism was termed by Prime Minister George Papandreou, during his two-day visit to Moscow on Monday-Tuesday, as one of the priorities of national economic policy that aims at the greatest possible attraction of visitors from Russia.
For this purpose, the Greek Consulate is among the first, if not the first, from Schengen Treaty member-states regarding the time of issuing visas for Russian citizens, that has been limited to 48 hours on average.
**** Athens Chamber of Commerce and Industry President Costas Mihalos, addressing the 6th tax conference organised by the Hellenic American Chamber on Thursday, spoke of the need for support for economic activity to enable the Greek economy to detach itself from recession and produce revenues for the state and the citizens.
Mihalos said that on the basis of existing proposals certain positive points surely exist but the negative ones are more.
He further said that certain terms that harm entrepreneurship and ignore conditions currently prevailing in European and global competition are very extreme, adding that measures of a growth character are absent, meaning those that will provide a momentum and an incentive for the rewarming of the Greek economy.