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ATHEX Hovers Around 1,550
Athens stocks post mixed signs on Wednesday, moving around 1,550.
“Market will most probably retain the minus sign, while foreign markets do not seem to be supportive right now. Apart from banks interest could also be seen to those stocks whose quarterly results were announced yesterday post market close (Hellenic Petroleum, Motor Oil, Fourlis),” Marfin Analysis says in its morning report.
“Though tracking the negative trend of the other European markets the Greek bourse collapsed in the second half of yesterday’ session, recording double losses than its peers. Pressure was exerted across the board and on higher volume than we have seen in recent sessions. The ASE is likely to remain on negative ground today, amidst a downbeat international climate,” Eurobank Securities says.
“Despite specific significant positive moves, yesterday’s abrupt downward move renders us cautious as to a possible continuation of the negative trend, anticipating that demand will not increase until the 1,500 units level. The absence of significant domestic catalysts that could offer some room for a possible positive move, continue to render the domestic market very susceptible to the course of markets abroad, whose momentum has turned very unfavorable, also following Ireland’s downgrade. In this context, we consider that the GI’s daily support level stands at the 1,510 – 1,500 units, a region which will hopefully provide the Athens market with an ascending reaction, the latter not expected however to surpass the 1,560 units,” Pegasus notes.
Across the board, the General Index rises 0.47% at 1,551.17 on a total turnover of 29.42 mil. euro.
(Capital.gr)
Athens stocks post mixed signs on Wednesday, moving around 1,550.
“Market will most probably retain the minus sign, while foreign markets do not seem to be supportive right now. Apart from banks interest could also be seen to those stocks whose quarterly results were announced yesterday post market close (Hellenic Petroleum, Motor Oil, Fourlis),” Marfin Analysis says in its morning report.
“Though tracking the negative trend of the other European markets the Greek bourse collapsed in the second half of yesterday’ session, recording double losses than its peers. Pressure was exerted across the board and on higher volume than we have seen in recent sessions. The ASE is likely to remain on negative ground today, amidst a downbeat international climate,” Eurobank Securities says.
“Despite specific significant positive moves, yesterday’s abrupt downward move renders us cautious as to a possible continuation of the negative trend, anticipating that demand will not increase until the 1,500 units level. The absence of significant domestic catalysts that could offer some room for a possible positive move, continue to render the domestic market very susceptible to the course of markets abroad, whose momentum has turned very unfavorable, also following Ireland’s downgrade. In this context, we consider that the GI’s daily support level stands at the 1,510 – 1,500 units, a region which will hopefully provide the Athens market with an ascending reaction, the latter not expected however to surpass the 1,560 units,” Pegasus notes.
Across the board, the General Index rises 0.47% at 1,551.17 on a total turnover of 29.42 mil. euro.
(Capital.gr)
