Stocks ended 1.23 percent down at close of trade on the Athens bourse on Friday, with the composite index of the Athens Stock Exchange falling to 2,168.43 points and turnover a moderate 195.7 million euros.
Most sectors moved downward, with Health (6.74 pct), Insurance (4.03 pct) and Public Utilities (2.38 pct) posting the biggest percentage gains of the day, while Banks (-2.30 pct), Financial Services (-2.18 pct) and Telecoms (-2.08 pct) were the biggest losers.
The FTSE 20 index dropped by 1.70 pct, the FTSE 40 index dropped by 0.41 pct and the FTSE 80 index posted fell by 0.78 pct. Advancers led decliners by 97 to 87, while another 56 issues were unchanged.
Sector indices ended as follows:
Oil & Gas: -0.66%
Personal & Household: -0.30%
Raw Materials: -1.41%
Travel & Leisure: -0.70%
Food & Beverages: +1.19%
Financial Services: -2.18%
The stocks with the highest turnover were National Bank, Alpha Bank, HBC Coca Cola and OTE.
Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank: 8.05
Public Power Corp (PPC): 13.69
HBC Coca Cola: 15.80
Hellenic Petroleum: 8.14
National Bank of Greece: 17.41
EFG Eurobank Ergasias: 7.62
Bank of Piraeus: 7.85
ADEX closing report
The March contract on the FTSE 20 index was trading at a discount of 0.93 pct in the Athens Derivatives Exchange on Friday, with turnover falling to 69.385 million euros. Volume on the Big Cap index totaled 8,587 contracts, worth 50.262 million euros, with 17,712 open positions in the market.
Volume in futures contracts on equities totaled 38,590 contracts worth 19.123 million euros, with investment interest focusing on OTE’s contracts (5,362) followed by MIG (4,847), National Bank (4,041), Marfin Popular Bank (3,862), Atebank (3,728), Mytilineos (2,939), Hellenic Postbank (1,956) and Alpha Bank (1,734).
Greek bond market
The yield spread between the 10-year Greek and German benchmark bonds increased to 260 basis points in the Greek electronic secondary bond market on Friday, with the Greek bond yielding 5.74 pct and the German Bund 3.14 pct. Turnover was 1.8 billion euros.
In interbank markets, interest rates were unchanged. The 12-month Euribor rate was 1.23 pct, the six-month rate 0.66 pct, the three-month 0.71 pct and the one-month rate 0.43 pct.
Foreign Exchange rates
U.S. dollar 1.445
Pound sterling 0.894
Danish kroner 7.501
Swedish kroner 10.541
Japanese yen 130.72
Swiss franc 1.507
Norwegian kroner 8.462
Canadian dollar 1.541
Australian dollar 1.628
**** Unemployment was recorded at 9.3 percent in the third quarter of 2009, up from 7.2 percent in the corresponding period of 2008, according to figures released on Friday by the National Statistics Service.
The number of employed people during the same period exceeded to 4.54 million. The number of unemployed increased by 128,234 people.
Unemployment among women was at 13.1 percent, 6.6 percent for men.
By region, the highest unemployment was recorded in the Western Macedonia region, 11.4 percent, followed by Eastern Macedonia-Thrace, 11 percent, while the lowest rates were in Ionian Islands with 5.1 percent, and the Northern Aegean region with 5.4 percent.
**** Greece’s current accounts deficit fell by 26.2 pct in the January-October period this year, totaling 20.8 billion euros, in comparison with the corresponding period last year, the Bank of Greece announced on Friday.
The central bank, in a report, said this development reflected mainly a major decline in imports and thus in the trade deficit, down 32.5 pct relative to the previous year. At the same time, however, there were also significant declines in foreign exchange from tourism (11.4 pct) and shipping (31.9 pct).
The country’s trade deficit fell by 12.354 billion euros in the 10-month period, reflecting a 6.684-billion-euro drop in the trade deficit of goods other than fuel and ships, a 4.349-billion-euros decline in fuel imports and a 1.321-billion-euros fall in net payments for the purchase of ships. Import payments fell 25.8 pct, while export receipts fell by 19.6 pct in the January-October period.
A decline in the services surplus by 4.339 billion euros in the 10-month period mainly reflected lower net proceeds from transport and travel services. Gross transport services’ revenues (mainly commercial shipping) dropped 31.9 pct to 3.094 billion euros, while travel spending in Greece by non-residents fell 11.4 pct.
The incomes deficit shrank by 658 million euros compared with the same period in 2008, reflecting lower net payments in dividends, interest and earnings, while the current transfers surplus fell by 1.268 billion euros.
The current accounts and capital transfers deficit (reflecting the economy’s needs for financing from abroad) totaled 2.475 million euros in October 2009, significantly lower than the 3.703 million euros total during the corresponding month in 2008. During the 10-month period January-October 2009, this deficit came to 19.286 million euros, down 23.5 percent relative to the same period in 2008.
**** Farming incomes in Greece rose 1 percent during 2009 relative to the previous year, according to figures released on Friday by the European statistics agency Eurostat. During the same year, average farming incomes throughout the 27 EU member-states fell by 12.2 percent.
The figures show that the average farming income in Greece during 2009 stood at 97.6 percent of the EU average farming income of 2005, while that in the 27 EU member-states stood at 98.3 percent of the 2005 average income.
Farming incomes in 2009 dropped most in Hungary (-35.6 percent), Italy (-25.3 percent) and Luxembourg (-25.1 percent). Farming incomes increased in Cyprus (1.1 percent), Finland (2.6 percent), Malta (9.6 percent) and the United Kingdom (14.3 percent).
**** The government was fighting a battle to reverse an image of complete unreliability created by its predecessor, Finance Minister George Papaconstantinou said in Parliament on Friday while replying to a question tabled by Popular Orthodox Rally (LAOS) MP Adonis Georgiadis.
“The current government is behaving responsibly toward the citizens and has specific policies for dealing with the problems created by clientelist practices,” he stressed.
He also accused the previous New Democracy government of laid Greece open to criticism and attacks from international credit rating agencies and foreign media through its policies, lies and the complete disparity between its words and actions.
“Even though we are members of the Eurozone, we have not been playing by Eurozone rules,” he added.