Athens Stocks Soar
The Greek Market moved sharply higher in the first session of December, posting the biggest percentage increase in the last six months.
Analysts say that there were positive signs already from yesterday, while the big boost by European markets also helped ASE’s upwards move, as tomorrow the ECB, following its regular meeting, is expected to announce measures to tackle the Eurozone’s debt crisis.
They note that while the Greek market has one more reason to react, since it is considered to have been oversold, adding that despite the increased risks, it offers investment opportunities. This is evident in the 9M earnings released by domestic listed companies, which without being impressive, they showed signs of resilience.
At the same time, the European sovereign periphery comes again in the spotlight, and it is estimated that if the ECB acts, banks could benefit.
They also say that December traditionally turns out to be a good month for the stock market.
Across the board, the General Index soared 3.85% at 1,474.35, on a total turnover of 119.59 mil. euro.
Financials skyrocketed 7.71%.
(Capital.gr)