Greek stocks ended lower in the Athens Stock Exchange on Friday, following a negative trend in other European markets. The composite index eased 0.36 pct to end at 1,535.82 points, off the dayʼs lows. Turnover was an improved 126.6 million euros, of which 5.2 million euros were block trades.
Most sectors moved lower, with the Financial Services (6.07 pct), Food/Beverage (3.0 pct) and Banks (2.95 pct) suffering the heaviest percentage losses of the day, while Commerce (6.34 pct), Telecoms (4.46 pct) and Oil (3.86 pct) scored gains.
The FTSE 20 index fell 1.11 pct, the FTSE 40 index ended 0.10 pct up and the FTSE 80 index eased 0.32 pct. Broadly, decliners to advancers by 134 to 66 with another 52 issues unchanged.
Sector indices ended as follows:
Oil & Gas: +3.85%
Personal & Household: -1.37%
Raw Materials: -1.33%
Travel & Leisure: +2.67%
Food & Beverages: -3.00%
Financial Services: -6.07%
The stocks with the highest turnover were OPAP, National Bank, OTE and Marfin Popular Bank.
Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank: 4.20
Public Power Corp (PPC): 11.98
HBC Coca Cola: 9.60
Hellenic Petroleum: 5.80
National Bank of Greece: 9.82
EFG Eurobank Ergasias: 4.06
Bank of Piraeus: 3.86
Titan Cement Company: 14.00
ADEX closing report
The March contract on the FTSE 20 index was traded at a discount of 1.88 percent in the Athens Derivatives Exchange on Friday, with turnover remaining a low 33.010 million euros. Volume on the Big Cap index was 7,067 contracts, worth 26.027 million euros and 31,911 open positions in the market.
Volume in futures contracts on equities totaled 11,774 contracts worth 6.983 million euros, with investment interest focusing on National Bankʼs contracts (2,442), followed by Eurobank (535), MIG (639), OTE (710), PPC (658), OPAP (548), Alpha Bank (478), Marfin Popular Bank (1,482) and Coca-Cola Hellenic Bottling (466).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds widened to 255 basis points in the Greek electronic secondary bond market on Friday, with turnover remaining a low 590 million euros, of which 245 million were buy orders and the remaining 345 million were sell orders.
The 10-year benchmark bond was the most heavily traded security of the day, with a turnover of 115 million euros. The Greek bond yielded 5.62 pct and the German Bund 3.07 pct.
In interbank markets, interest rates were unchanged. The 12-month Euribor rate was 2.03 pct, the six-month rate 1.93 pct, the three-month rate 1.82 pct and the one-month rate 1.53 pct.
Foreign Exchange rates
U.S. dollar 1.274
Pound sterling 0.900
Danish kroner 7.51
Swedish kroner 11.544
Japanese yen 124.22
Swiss franc 1.496
Norwegian kroner 8.957
Canadian dollar 1.611
Australian dollar 2.005
**** Net incomes of the 2008 state budget increased by 5.1 per cent, compared to 2007, according to data released by the State’s Accounts Office on Friday, regarding the execution of the budget.
**** Greece’s Producer’s Price Index (measuring both the domestic and foreign markets) fell 4.0 pct in January, compared with the same month in 2008, the National Statistical Service said on Friday. The index was up 0.4 pct in January from December 2008.
**** Greeceʼs retail sales turnover index fell by 4.0 pct in December, compared with the same month in 2007, after an increase of 3.2 pct in December 2007, the National Statistical Service said on Friday.
The statistics agency attributed the 4.0 pct drop in the retail sales turnover index to a 2.2 pct fall in the foodstore index and a 5.4 pct drop in the other stores index.
The retail sales volume index (turnover in fixed prices) fell 7.1 pct in December 2008, after recording a zero change in December 2007. The fall reflected a 5.9 pct decline in the foodstore index and a 7.8 pct fall in the other store index.
**** Greek annual inflation slowed to 2.0 pct in January, from 2.2 pct in December 2008, Eurostat said on Friday. The EU executiveʼs statistics agency, in a monthly report, said the inflation rate in the Eurozone fell to 1.1 pct in January, from 1.6 pct in December, sharply down from a 3.2 pct figure in January 2008, while in the EU-27, the inflation rate eased to 1.7 pct from 2.2 pct in December and 3.4 pct in January 2008.
Luxembourg (0.0 pct), Portugal (0.1 pct), Spain and France (0.8 pct each) recorded the lowest inflation rates in January, while Latvia (9.7 pct), Lithuania (9.5 pct) and Romania (6.8 pct) the highest rates. Eurostat said the inflation rate fell in 24 EU member-states, it was unchanged in Holland (1.7 pct) and rose in Lithuania and Romania.
**** Piraeus Bank on Friday said its net profits -excluding additional provisions of 215 million euros- totalled 530 million euros in 2008, up from 503 million euros in 2007, while its net pre-tax and provisions profits rose to 774 million euros from 742 million euros in 2007.
Assets totalled 55 billion euros, up 8.5 billion euros from the previous year, while saving deposits grew 31 pct (7.4 billion euros) and loans grew 27 pct (8.0 billion euros). Piraeus Bank Group said its cash flow was further boosted after the successful completion of two loan securitizations (2.5 billion euros) and the bank’s participation in a government-sponsored program to boost liquidity in the economy (750 million euros). The bank said its bad debt rate was 3.56 pct last year, while its provision coverage rate was 51 pct.
Piraeus Bank said its targets for 2009 focus on portfolio high quality, ensuring cash flow and a drastic cut in operating costs. The bank said its credit expansion growth rate was expected to be 5-10 pct this year.
Commenting on the results, Piraeus Bank’s chairman Mihalis Sallas, said 2008 was a difficult year for the economy and the banking sector globally. “Unprecedented conditions prevailing in the last few months dictated an adjustment of our policy to new standards with the aim to strengthen the group and its balance sheet. For this reason we have made an additional provision of 215 million euros in the last quarter of 2008”.
The 2009-2010 period will not be easy, Sallas said, adding that the bank was prepared to take advantage of every opportunity arose and to deal with new challenges. “Greece continues to contribute more than 80 pct of our operations, while our international presence expands in nine countries, of which four are EU member-states,” the Greek banker said.