Greek stocks ended almost unchanged around the 990-point level in the Athens Stock Exchange on Friday, with the market unable to get a boost from a significant increase in bank share prices as investors discounted a positive outcome in their stress tests, due to be released on Sunday.
Traders said other blue chip stocks came under pressure, such as OTE, PPC, OPAP and Ellaktor, counterbalancing bank share gains.
The composite index of the market rose 0.13 pct to end at 991.33 points, after rising as much as 1,008.44 points during the day. The index ended the week with a net gain of 6.39 pct, reversing a six-week declining trend during which the index suffered losses totaling 22.16 pct. The index is 14.74 pct lower so far this year.
Turnover was a strong 142.19 million euros. The Large Cap index rose 0.22 pct and the Mid Cap index ended 0.30 pct lower. Eurobank (5.36 pct), Piraeus Bank (4.0 pct), Intralot (3.79 pct) and MIG (3.0 pct) were top gainers among blue chips, while PPC (4.41 pct), GEK Terna (4.0 pct), Ellaktor (3.69 pct) and Terna Energy (3.41 pct) suffered heavy losses.
Among market sectors, Banks (2.94 pct), Financial Services (2.46 pct) and Insurance (0.71 pct) scored gains, while Utilities (3.40 pct), Raw Materials (3.08 pct) and Travel (2.59 pct) suffered losses.
Broadly, decliners led advancers by 64 to 52 with another 19 issues unchanged. Sato (19.79 pc), Unibios (10.61 pct), Naftemporiki (9.94 pct) were top gainers, while Domiki Crete (20 pct), Compucon (18.18 pct) and Hellenic Sugar (9.17 pct) were top losers.
Sector indices ended as follows:
Financial Service: +2.46%
Real Estate: -1.08%
Personal & Household: -0.29%
Food & Beverages: -0.67%
Raw Materials: -3.08%
Mass Media: unchanged
Travel & Leisure: -2.59%
The stocks with the highest turnover were Piraeus Bank, Alpha Bank, National Bank and OPAP.
Selected shares from the FTSE/ASE Large Cap index closed in euros as follows:
Alpha Bank: 0.610
Public Power Corp (PPC): 6.50
Coca Cola HBC: 16.72
Hellenic Petroleum (ELPE): 4.55
National Bank of Greece: 2.31
Piraeus Bank: 1.30
Grivalia Properties: 9.01
ADEX closing report
The November contract on the FTSE/ASE Large Cap index was trading at a discount of 0.82 pct in the Athens Derivatives Exchange on Friday. Volume on the Big Cap index totalled 4,138 contracts with 40,807 open positions in the market.
Volume in futures contracts on equities totalled 49,056 contracts with investment interest focusing on Piraeus Bank’s contracts (18,209), followed by Alpha Bank (9,065), Eurobank (8,983), National Bank (6,829), PPC (1,681), OTE (783), MIG (656), OPAP (576), GEK (487), Hellenic Exchanges (451), Mytilineos (430), Intralot (166), Hellenic Petroleum (160) and Motor Oil (71).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds eased slightly to 6.44 pct in the domestic electronic secondary bond market on Friday, from 6.54 pct the previous day, with the Greek bond yielding 7.32 pct and the German Bund yielding 0.88 pct. Turnover was a moderate 41 million euros, of which 27 million euros were buy orders and the remaining 14 million were sell orders.
In interbank markets, interest rates were largely unchanged. The 12-month rate was 0.341 pct, the nine-month rate was 0.260 pct, the six-month rate rose slightly to 0.188 pct, the three-month rate was 0.085 pct and the one-month rate rose to 0.012 pct from 0.011 pct.
Foreign exchange rates
U.S. dollar 1.2659
Pound sterling 0.7887
Danish kroner 7.4452
Swedish kroner 9.1881
Japanese yen 136.64
Swiss franc 1.206
Norwegian kroner 8.34
Canadian dollar 1.4191
Australian dollar 1.4396
**** Income and property taxes grew by 984 million euros in the second quarter of 2014 to 4.79 billion euros, from 3.806 billion euros in the first quarter and 4.33 billion euros in the second quarter of 2013, Hellenic Statistical Authority said on Friday.
The statistics service, in a report, said that civil servants’ salaries fell further in the April-June period, with payroll spending totaling 5.158 billion euros, from 5.208 billion euros in the first quarter and 5.616 billion euros in the corresponding period last year.
State spending on social benefits totaled 9.483 billion euros at the end of June, from 9.215 billion euros three months earlier and 9.678 billion euros in the same period in 2013.
The statistics service, in its report said that the nominal value of the country’s public debt totaled 317.499 billion euros, up from 315.002 billion in the first quarter of 2014.
**** Greece’s trade deficit shrank by 29.5 pct in August, reversing a rising trend which prevailed in the previous months, as a decline in the value of imports was almost triple compared with the decline in exports. The trade deficit, however, was up 5.2 pct in the January-August period, Hellenic Statistical Authority said on Friday.
The statistics service, in a report on the country’s merchandise trade, said that the value of import-arrivals totaled 3.286 billion euros in August, from 3.926 billion in the same month last year, for a decline of 16.3 pct) excluding oil products imports fell by 12.9 pct).
The value of export-deliveries totaled 2.056 billion euros in August, from 2.181 billion in August 2013, for a decline of 5.7 pct (excluding oil products exports fell by 5.9 pct).
The country’s trade deficit totaled 1.230 billion euros in August, from 1.745 billion euros in the same month last year, for a decline of 29.5 pct (excluding oil products the trade deficit fell by 20.3 pct).
In the eight-month period from January to August, the value of import-arrivals totaled 31.252 billion euros, from 31.307 billion last year, a decline of 0.2 pct (excluding oil products imports rose by 6.4 pct).
The value of export-deliveries totaled 17.710 billion euros in the January-August period, from 18.433 billion last year, a decline of 3.9 pct (excluding oil products exports fell by 3.0 pct).
The trade deficit totaled 13.542 billion euros in the eight-month period, from 12.873 billion last year, an increase of 5.2 pct (excluding oil products the trade deficit rose by 18.3 pct).
**** Building materials’ prices fell by 2.9 pct in September this year, compared with the corresponding month in 2013, moving in line with a decline in building activity in the country.
Hellenic Statistical Authority, in a report released on Wednesday, said that steel pipe prices fell 7.9 pct in September, window prices fell 6.3 pct, interior doors eased 4.7 pct, diesel oil prices fell 3.7 pct, cement prices were down 3.5 pct, plastic pipe prices fell 3.5 pct, wooden floor prices eased 3.4 pct and marble plate prices eased 3.1 pct, while on the other hand, electricity prices rose 4.9 pct, brick and tiles fell by 3.4 pct and 3.1 pct, respectively, in September.
The building materials’ price index was down 1.8 pct in September 2013, while it fell 0.1 pct in September from August 2014.
**** The U.S. food importer Costco on Friday signed an major deal for the exports of hundreds of tonnes of virgin olive oil from the island of Crete to the United States. The agreement was signed in Iraklio, between Costco and the Cretan firm Botzakis SA, and calls for the export of 200-400 tonnes of olive oil to the U.S. each month.
It is supported by the Crete Regional authority and Exporters Association of Crete and local chambers.
Costco’s representative Tassos Chronopoulos noted that Crete produces some of the highest quality olive oil in the world and is a product that is widely recognised in the United States and throughout the American continent.
**** Private sector union GSEE’s executive committee called for a 24hour general strike on Thursday, November 27. It also decided to hold more labour action, depending on the time of the parliamentary debate on the 2015 budget. Public sector union ADEDY has already announced its plans for protests within November.
**** Greek energy authorities approved electricity power production licenses for two wind power parks by PPC Renewables SA, a subsidiary of Public Power Corporation.
In an announcement to the Athens Stock Exchange on Wednesday, PPC said the two licenses cover two wind power parks with a total power of 106MW, budgeted at 127,200,000, in the region of Rodopi, Northern Greece.
**** Greece expects to raise more than 150 million euros from leasing the lignite field in Vevi, in the country’s northwest area of Florina, during the first 15 years of the agreement, the Environment, Energy and Climate Change ministry said on Thursday.
The decision to lease the right to operate the field was signed by Deputy Minister Asimakis Papageorgiou, while the agreement with the contractor, Aktor, will be submitted to Parliament for approval.
“By re-operating the lignite field, we create about 500 full-time jobs offering a real opportunity not just to Florina but to the entire Western Macedonia,” Papageorgiou said.
In a statement, the ministry also said: “Re-operating the lignite field in Vevi contributes in the smooth and effective operation of power production units, ensuring the energy sufficiency of our country.”