Greek stocks ended the last trading session of the week with moderate losses at the Athens Stock Exchange. The composite index fell 0.48 pct to end at 1,474.35 points, with turnover a low 98.5 million euros, of which 7.3 million euros were block trades.
Most sectors moved lower, with the Media (5.80 pct), Oil (3.24 pct), Healthcare (2.76 pct) and Commerce (2.75 pct) suffering the heaviest percentage losses of the day, while Personal/Home Products (2.60 pct), Travel (0.61 pct) and Constructions (0.35 pct) scored gains.
The FTSE 20 index fell 0.36 pct, the FTSE 40 index eased 0.11 pct and the FTSE 80 index ended 0.08 pct off. Broadly, decliners led advancers by 130 to 63 with another 48 issues unchanged.
Τurnover at the Athens Stock Exchange fell by 13.89 percent to 2.118 billion euros in February, down from 2.460 billion in January, while compared with February 2008 (7.665 billion euros) turnover was down a staggering 72.36 percent, official figures revealed on Friday.
Average daily turnover was 105 million euros in February, down from 123 million in January and 348 million euros in February 2008, while the most active stocks of the month (in value) were National Bank, OPAP, Alpha Bank and the Public Power Corp. (PPC).
The composite index of the market ended February at 1,535.82 points, off 13.69 pct from a month earlier. The FTSE 20 index was down 17.89 pct, the FTSE 40 index dropped 3.98 pct and the FTSE 80 index fell 9.0 pct.
Sector indices ended as follows:
Oil & Gas: -3.24%
Personal & Household: +2.60%
Raw Materials: +0.19%
Travel & Leisure: +0.61%
Food & Beverages: -1.78%
Financial Services: -0.46%
The stocks with the highest turnover were National Bank, Alpha Bank, OPAP and Bank of Piraeus.
Selected shares from the FTSE/ASE-20 index closed in euros as follows:
Alpha Bank: 3.80
Public Power Corp (PPC): 11.86
HBC Coca Cola: 9.00
Hellenic Petroleum: 5.74
National Bank of Greece: 8.96
EFG Eurobank Ergasias: 3.64
Bank of Piraeus: 3.58
Titan Cement Company: 14.38
ADEX closing report
Greek futures contract prices maintained their discount in the Athens Derivatives Exchange on Friday, with the March contract trading at a discount of 1.60 pct and turnover a low 36.284 million euros. Volume was 5,339 contracts worth 18.920 million euros, with 32,882 open positions in the market.
Volume in futures contracts on equities totaled 18,704, worth 17.364 million euros, with investment interest focusing on Piraeus Bankʼs contracts (6,917), followed by Eurobank (5,246), Marfin Investment Group (6.144), OTE (1,939), PPC (1,849), GEK (2,432), National Bank (4,780), Alpha Bank (1,549) and ATEbank (1,346).
Greek bond market closing report
The yield spread between the 10-year Greek and German benchmark bonds widened to a new record high of 314 basis points in the Greek electronic secondary bond market on Friday, with turnover at 747 million euros of which 342 million were buy orders and the remaining 405 million euros were sell orders. The 10-year benchmark bond was the most heavily traded security with a turnover of 120 million euros. The Greek 10-year bond yielded 6.06 pct and the German Bund 2.92 pct.
In the interbank market, interest rates moved lower. The 12-month Euribor rate was 1.95 pct, the six-month rate 1.84 pct, the three-month rate 1.72 pct and the one-month rate 1.39 pct.
Foreign Exchange rates
U.S. dollar 1.275
Pound sterling 0.897
Danish kroner 7.510
Swedish kroner 11.807
Japanese yen 123.51
Swiss franc 1.475
Norwegian kroner 9.024
Canadian dollar 1.638
Australian dollar 1.994
**** Convention and congress tourism could act a “barrier” to any crisis hitting the countryʼs tourism industry, as it shows increased resilience despite adverse economic conditions, while offering significant growth potential in bilateral cooperation networks, particularly with Balkan states, Dinos Astras, head of the Hellenic Association of Professional Congress Organizers (HAPCO), said on Friday.
Speaking to reporters, during a news conference on the 5th nationwide conference of convention and professional tourism in Thessaloniki, Astras urged the state to contribute in promoting the sector, saying Greeceʼs share in the global convention tourism market was only 0.8 pct, according to figures by the International Congress Conventional Association.
Astras noted there was no register of congress and convention halls in the country and urged for actions to institutionalise the profession of a convention organizer, upgrading tourism education, promotion campaign and creating a metropolitan conventional centre in Athens in the form of joint venture between the Greek state and private investors.
He predicted that tourism arrivals to Greece this year will record a decrease of more than 30 pct based on available data so far.
**** Foreign institutional investors continue showing their confidence on OPAP -Greece’s national lottery- despite the impact of a global economic crisis on stock markets and a continuous exit of foreign investors from the Greek market, Christos Hatziemmanouel, the organisation’s chairman told reporters.
Hatziemmanouel stressed that OPAP was the top lottery company in the world -based on market capitalization- from fifth 18 months ago, while it was emerging as the second best company worldwide -based on market return. OPAP was the largest listed company in the Greek stock market.
Foreign institutional investors’ confidence was based on a radical restructuring program implemented by the organisation and more secure prospects of maintaining its monopoly in the Greek gaming market. Foreign institutional investors hold 59 pct of OPAP’s equity capital, up from 54 pct 18 months ago, while the Greek state owns 34 pct and 7-8 pct was held by private Greek investors.
Hatziemmanouel said the organisation was focusing on global activities and expressed his optimism of a positive outcome in a tender to buy the Turkish state lottery.
**** Athens-based Cosmote on Thursday announced the signing of an agreement with the Albanian government to buy an additional 12.6-pct stake in its Albanian subsidiary, AMC, for 48.2 million euros.
After completion of the deal, Cosmote will control 95 pct of AMC.
The agreement was signed between Michalis Tsamaz, Cosmote’s chief executive, and Albanian Deputy Economy Minister Enno Bozdo.
AMC is the leader in mobile telephony operations in Albania, with an exceptional EBITDA margin.
**** Car registrations (new and used ones) dropped by 37.4 percent in the first two months of the year, compared with the corresponding period in 2008, the National Statistical Service said on Thursday.
The statistical service, in a report, said that car registrations totaled 46,677 vehicles in the January-February period, down from 74,597 vehicles in the same period last year. New car registrations totaled 20,453 units in February, down 34.8 pct from last year.
The statistical service said new motorcycle registrations fell 20.0 pct to 8,559 units in the January-February period, from 10,696 units last year.