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Greek Market Sharply Higher, Led By Banks
Athens stocks are firmer on Wednesday on the back of tightening GGB spreads.
"There is improved sentiment as regards Greek risk, reflected in the bond market with tighter yield spreads and in the equity market with the oversubscription of NBG΄s rights offering," analyst Nick Koskoletos at EFG Eurobank Securities told Reuters.
“Despite moving in negative territories for the majority of the ttrading session, the GI succeeded in retaining its short-term upward trend, keeping its technical ascending outlook in tact. As long as foreign markets refuse to correct significantly and hearsay concerning potential mergers in the domestic banking sector continues to prevail, we consider that the market will find the fuels to retain its ascension, possibly breaking the significant resistance region of the 1,565 units. In this context, we anticipate the GI to trade on slightly higher levels today, gradually aiming for the 1,560 units, which consist today΄s 2nd resistance level,” Pegasus Securities noted in its morning report.
Across the board, the General Index advances 1.87% at 1,571.4 on a total turnover of 65.34 mil. euro.
Financials gain as much as 3.57%.
(Capital.gr)
Athens stocks are firmer on Wednesday on the back of tightening GGB spreads.
"There is improved sentiment as regards Greek risk, reflected in the bond market with tighter yield spreads and in the equity market with the oversubscription of NBG΄s rights offering," analyst Nick Koskoletos at EFG Eurobank Securities told Reuters.
“Despite moving in negative territories for the majority of the ttrading session, the GI succeeded in retaining its short-term upward trend, keeping its technical ascending outlook in tact. As long as foreign markets refuse to correct significantly and hearsay concerning potential mergers in the domestic banking sector continues to prevail, we consider that the market will find the fuels to retain its ascension, possibly breaking the significant resistance region of the 1,565 units. In this context, we anticipate the GI to trade on slightly higher levels today, gradually aiming for the 1,560 units, which consist today΄s 2nd resistance level,” Pegasus Securities noted in its morning report.
Across the board, the General Index advances 1.87% at 1,571.4 on a total turnover of 65.34 mil. euro.
Financials gain as much as 3.57%.
(Capital.gr)