Stocks edged higher during the last trading session of the week at the Athens Stock Exchange, with the composite index of the market rising 0.09 pct to end at 2,611.56 points. Turnover was 272.8 million euros, of which 47.3 million euros were block trades.
Most sectors moved upwards, with the Chemicals (4.21 pct), Health (2.74 pct) and Utilities (2.32 pct) scoring the biggest percentage gains of the day, while Media (2.71 pct), Commerce (1.50 pct) and Industrial Products (1.09 pct) suffered losses.
The FTSE 20 index rose 0.13 pct, the FTSE 40 index eased 0.14 pct and the FTSE 80 index fell 0.77 pct. Broadly, decliners led advancers by 130 to 62 with another 63 issues unchanged.
Sector indices ended as follows:
Oil & Gas: +1.51%
Personal & Household: +0.12%
Raw Materials: -1.04%
Travel & Leisure: -0.66%
Food & Beverages: +1.28%
Financial Services: -0.17%
The stocks with the highest turnover were National Bank, Marfin Popular Bank, MIG and Alpha Bank.
Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank: 12.16
Public Power Corp (PPC): 15.20
HBC Coca Cola: 17.69
Hellenic Petroleum: 7.82
National Bank of Greece: 23.30
EFG Eurobank Ergasias: 10.39
Bank of Piraeus: 11.75
ADEX closing report
The December contract on the FTSE 20 index was trading at -0.72 pct in the Athens Derivatives Exchange on Friday, with turnover shrinking to 60.921 million euros. Volume on the Big Cap index totaled 7,206 contracts worth 49.205 million euros, with 21,001 open positions in the market.
Volume in futures contracts on equities totaled 19,110 contracts worth 11.717 million euros, with investment interest focusing on Marfin Popular Bank’s contracts (8,072), followed by MIG (4,015), OTE (637), Piraeus Bank (751), National Bank (1,142), Alpha Bank (523), Cyprus Bank (417) and Eurobank (507).
Greek bond market
Turnover in the Greek electronic secondary bond market totaled around 2.0 billion euros on Friday, with the yield spread between the 10-year Greek and German benchmark bonds widening to 121 basis points. The Greek bond yielded 4.48 pct and the German Bund 3.27 pct.
In interbank markets, interest rates moved slightly lower. The 12-month Euribor rate was 1.23 pct, the six-month rate 1.02 pct, the three-month rate 0.74 pct and the one-month rate 0.44 pct.
Foreign Exchange rates
U.S. dollar 1.478
Pound sterling 0.926
Danish kroner 7.501
Swedish kroner 10.235
Japanese yen 133.65
Swiss franc 1.523
Norwegian kroner 8.57
Canadian dollar 1.616
Australian dollar 1.708
**** Greece’s trade deficit totaled 2.393 billion euros in July, down from 4.022 billion euros in July 2008, a decline of 40.5 percent, the National Statistical Service announced on Friday.
The statistics agency, in a monthly report, said the value of import-arrivals in the country dropped 34.4 pct in July, while the value of export-deliveries fell 19.2 pct compared with the corresponding period last year.
The trade deficit in the January-July period totaled 14.554 billion euros, from 25.764 billion euros in the same period in 2008, for a decline of 43.5 percent.
The value of exports fell 36.4 pct while exports fell 18.6 pct over the same period.
**** Credit expansion slowed further in August to 6.0 pct, after a 6.6-pct growth rate reported in July, as both enterprises and households cut their borrowing, the Bank of Greece announced on Friday.
New loans to enterprises totaled 804 million euros in August, for an annual growth rate of 7.3 pct, down from 7.9 pct in July and an 18.7 pct growth rate in December 2008. Lending to households totaled 108 million euros in August, for an annual growth rate of 4.7 pct, down from 5.2 pct in July.
The central bank, in a report, said mortgage loans to households totaled 42 million euros for an annual growth rate of 4.8 pct in August, down from 5.2 pct in July, while the remaining 91 million euros were consumer loans. Their annual growth rate fell to 4.8 pct in August from 5.8 pct in July.
**** Greek pension funds’ assets totaled 36.2 billion euros, from 21.8 billion euros in 2004, an increase of 65.8 pct, Employment Minister Fani Palli-Petralia said on Friday.
Speaking to reporters, the minister said these numbers alone highlighted the proper management and the success of a social insurance reform programe implemented by the government.
**** Marfin Investment Group (MIG) on Friday announced that it has filed a lawsuit against foreign minister Dora Bakoyannis, seeking three million euros in compensation for moral damage incurred as a result of her “defamation of and insult to the company’s character”.
MIG added that it will donate the money to its non-profit Marfin Foundation for its public benefit work.
“All we, executives and employees, at MIG have put in honest and hard work for many years in order to create the biggest Greek business Group, and we are proud of that. We will not allow anyone to dispute that pride, regardless of the cost,” a MIG announcement said.
In a later development, Bakoyannis counter-sued the company and its chief operating officer, Andreas Vgenopoulos, for defamation of character and slander.
The Greek FM’s lawsuit demands three million euros in compensation, while a press release added that if successful she will donate the money to the City of Athens’ foundation for the homeless.
**** Selman SA on Friday announced the signing of an agreement to issue a 31.5-mln-euro bond loan, which will be fully covered by Piraeus Bank, National Bank, Alpha bank, Geniki Bank, Emporiki Bank and EFG Eurobank Ergasias.
The company said it will use the new money to refinance its existing short-term debt (totaling 23.5 million euros) and raising its working capital by 8.0 million euros. Selman said the new bond issue completed a restructuring plan of its debt.
**** Motor Oil –a Greek-listed refinery- on Thursday announced the acquisition of Shell’s petrol station network in Greece, along with a series of the oil giant’s assets in the country, for 291.1 million euros.
Under the agreement, Motor Oil will buy from Shell Overseas Holding Ltd its around 700 petrol stations, fuel storage facilities (located in six Greek cities), its lubricants manufacturing facilities in Perama, storage and distribution of chemicals and 49 pct of aircraft fuel activities (Shell Oversease Holdings Ltd will maintain the remaining 51 pct stake). Under the deal, Motor Oil will maintain Shell’s brand on its petrol stations for a period of at least five years.
Motor Oil will pay an additional 26.5 million euros to buy Shell Gas (LPG) Holdings BV.
Meanwhile, Petros Petropoulos AEBE announced it will buy Shell’s lubricants activities for around 14 million euros.