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Greek Market Fluctuates
Athens stocks consolidate on Friday, with investors eyeing the revision of the 2009 deficit figures that will be announced on Monday.
“As we move towards the 2nd round of the regional elections (Sunday) and the (most probable) upward readjustment of Greece΄s 2009 fiscal deficit by Eurostat (Monday), it becomes more evident that the general market consensus has shifted significantly towards the negative end since October the 25th. While foreign markets continue, in essence, to deny to correct, a fact even more promising when EU markets are under focus considering newswire related to Ireland΄s fiscal challenges and the subsequent fall of the Euro, the Athens market is clearly incapable of finding the resources to follow. That said, it seems, however, as if the market has approached its lows for the time being. In this context, we expect negative volatility to continue to prevail, with the Athens market moving in the region of the 1,475 - 1,495 units, which consist today΄s 1st support and pivot point respectively,” Pegasus says in its morning report.
Across the board, the General Index is a tad higher at 1,494.93 (+0.10%) on a total turnover of 34.52 mil. euro.
(Capital.gr)
Athens stocks consolidate on Friday, with investors eyeing the revision of the 2009 deficit figures that will be announced on Monday.
“As we move towards the 2nd round of the regional elections (Sunday) and the (most probable) upward readjustment of Greece΄s 2009 fiscal deficit by Eurostat (Monday), it becomes more evident that the general market consensus has shifted significantly towards the negative end since October the 25th. While foreign markets continue, in essence, to deny to correct, a fact even more promising when EU markets are under focus considering newswire related to Ireland΄s fiscal challenges and the subsequent fall of the Euro, the Athens market is clearly incapable of finding the resources to follow. That said, it seems, however, as if the market has approached its lows for the time being. In this context, we expect negative volatility to continue to prevail, with the Athens market moving in the region of the 1,475 - 1,495 units, which consist today΄s 1st support and pivot point respectively,” Pegasus says in its morning report.
Across the board, the General Index is a tad higher at 1,494.93 (+0.10%) on a total turnover of 34.52 mil. euro.
(Capital.gr)