Greek stocks ended slightly lower in thin trading conditions in the last session of the week in the Athens Stock Exchange, with investors sidelined awaiting the return of the institutions in Athens and the beginning of negotiations with the government next week.
The composite index fell 0.64 pct to end at 645.37 points, off the day’s lows of 642.89 points. The index is up 0.92 pct in the week and up 0.27 pct so far this year.
The Large Cap index eased 0.82 pct and the Mid Cap index ended 0.09 pct lower. Turnover was a thin 25.618 million euros in volume of 32,300,274 shares. PPC (1.87 pct), Mytilineos (1.60 pct) and Hellenic Petroleum (1.27 pct) scored the biggest percentage gains among blue chip stocks, while Alpha Bank (3.43 pct), Sarantis (2.82 pct) and Piraeus Bank (2.19 pct) suffered heavy losses. Among market sectors, Raw Materials (1.60 pct) and Utilities (1.15 pct) scored big gains, while Banks (2.22 pct), Telecoms (1.84 pct) and Travel (1.76 pct) suffered losses. Piraeus Bank and National Bank were the most heavily traded securities of the day. Broadly, advancers led decliners by 55 to 54 with another 43 issues unchanged. Akritas (19.83 pct), Chatzikraniotis (19.74 pct) and Audiovisual (15 pct) were top gainers, while Pairis (26.50 pct), Nexans (18.10 pct) and Sato (18 pct) were top losers.
ADEX closing report
The March contract on the FTSE/ASE Large Cap index was trading at a premium of 0.25 pct in the Athens Derivatives Exchange on Friday. Volume on the Big Cap index totaled 1,862 contracts with 7,782 open positions in the market.
Volume in futures contracts on equities totaled 63,508 contracts with investment interest focusing on National Bank’s contracts (30,139), followed by Alpha Bank (3,885), Piraeus Bank (17,096), Eurobank (8,027), MIG (1,848), OTE (478), PPC (278), OPAP (137), Mytilineos (411), Hellenic Petroleum (801), Ellaktor (141), Viohalco (99).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds eased slightly to 6.92 pct in the domestic electronic secondary bond market on Friday, from 6.96 pct on Thursday, with the Greek bond yielding 7.12 pct and the German Bund yielding 0.20 pct. Turnover was a thin 1.0 million euros.
In interbank markets, interest rates moved lower. The 12-month rate fell to -0.113 pct from -0.111 pct, the nine-month rate eased to -0.171 pct from -0.170 pct, the six-month rate was -0.238 pct, the three-month rate was -0.329 pct and the one-month rate was -0.371 pct.
**** Greek budget recorded a primary surplus of 1.019 billion euros in January, from a primary surplus of 1.003 billion in January 2016 and a budget target for a surplus of 670 million euros, official figures showed on Friday.
A report on budget execution on an amended cash basis showed that the Greek budget recorded a surplus of 839 million euros in January from a surplus of 888 million last year and a budget target for a surplus of 530 million.
State budget net revenue totaled 4.164 billion euros in January, up 4.3 pct from budget targets, while regular budget net revenue was 4.047 billion euros, up 8.9 pct from targets. This reflected increases in corporate taxes by 357.2 pct, direct taxes by 15.2 pct, VAT on oil products by 9.6 pct, VAT on tobacco by 38.9 pct, car circulation duties by 61.2 pct, other non-tax revenue by 25.2 pct, while tax revenue fell short of targets in income tax (-1.8 pct), other VAT (-6.8 pct), special consumption tax on energy products (-4.3 pct), EU funds inflows (-10.8 pct).
Revenue returns totaled 314 million euros in January, up 18 million from targets, while Public Investment Program revenue was 117 million euros, down 159 million from targets.
State budget spending totaled 3.326 billion euros in January, down 137 million from budget targets, while regular budget spending was 3.299 billion euros, down 19 million from targets, but up by 107 million euros compared with January 2016. Public Investment Program spending was 27 million euros, down 118 million from targets.
**** Registered unemployment (seeking a job) grew 2.03 pct in January 2017 to 928,962, compared with December 2016, the Workforce Employment Organization (OAED) said on Tuesday.
OAED, in a monthly report, said that a total of 500,401 (53.87 pct) registered unemployed people were registered for more than 12 months, while the remaining 428,561 (46.13 pct) for less than 12 months, while the rate among women was 61.67 pct.
The 30-54 age group recorded the highest registered unemployment rate (64 pct), while 9 out of 10 registered unemployed were Greek citizens.
Total registered unemployment, not seeking a job, in January 2017 was down 0.71 pct compared with December 2016, while unemployed people receiving unemployment benefit totaled 157,015 in January, down 27,647 or 14.97 pct compared with December 2016.
**** Greece’s producer’s price index in the industrial sector grew 9.7 pct in January this year compared with the same month in 2016, after a 7.3 pct decline recorded in the 2016/2015 period, Hellenic Statistical Authority said on Friday.
The statistics service, in a monthly report, attributed this development in the composite index (measuring both the domestic and external markets) to a 6.9 pct increase in the domestic market and a 19.7 pct rise in the external market index. The index was up 1.0 pct in January 2017 from December 2016, after a 3.2 pct decline recorded in the same period last year.
**** Building materials’ prices remained unchanged in January after a 2.3 pct decline recorded in January 2016, Hellenic Statistical Authority said on Thursday.
The statistics service, in a report, attributed this development to price increases in diesel oil (28.6 pct), steel pipes (9.0 pct), iron (1.1 pct) and locks (1.0 pct) and price declines in wooden windows (2.4 pct), tiles (2.4 pct), plastic pipes (2.0 pct), bathtabs (1.5 pct), cement (1.3 pct), interior doors (1.1 pct), aluminium doors (1.0 pct), electricity (0.6 pct).
The composite index grew 0.2 pct in January from December 2016, after a 0.3 pct decline recorded in the same period last year.
**** The European Stability Mechanism (ESM) completed on February 10 the smoothing of Greece’s repayment profile for the loans the country received from the European Financial Stability Facility (EFSF), the crisis resolution mechanism said on Friday.
With this smoothing, the weighted average maturity for the outstanding EFSF loans currently totaling 130.9 billion euros was increased to 32.45 years. The measure is part of the short-term debt relief measures for Greece agreed by its creditors.
**** Greek exports to Russia returned to positive group in 2016 after three years of decline, the Greek embassy’s Economic and Trade Affairs bureau in Moscow said in a report on bilateral trade relations.
According to provisional data released by Hellenic Statistical Authority, a decline in bilateral trade between Greece and Russia continued in 2016, but showed signs of slowdown, with the volume of trade falling by 16.8 pct to 3.6 billion euros. Greek exports to Russia grew 1.1 pct to 215.5 million euros in 2016, while imports from Russia fell 18 pct to 2.8 billion euros.
The trade balance, despite an improvement of around 612 million euros, remained in deficit for Greece, reflecting the impact of an EU embargo against Russia over the Ukraine crisis, a significant depreciation of the Russian currency and a decline in domestic demand because of a recession in the Russian economy.
Clothing and fur products accounted for 21 pct of total Greek exports to Russia, down 3.0 pct from 2015, followed by oil products (9.8 pct), tobacco (7.8 pct), lifts 3.7 pct) and steel pipes (3.5 pct).
Imports from Russia were mainly oil products (70.7 pct), natural gas (13.1 pct), copper (1.5 pct) and wheat (1.0 pct).