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Greek Stocks Fluctuate, Banks Under Pressure
Athens General Index moves in a narrow range on Tuesday, after yesterday’s heavy losses.
Banks are once again under pressure as result of rumors for a possible downgrade of Greece’s rating.
Gains of PPC, Coca-Cola Hellenic and Hellenic Telecom in the FTSE20 index do not seem to counterbalance banks’ downward trend.
Pegasus Securities expects the General Index to reach the 1st support level (1.430units) intraday and gradually rise towards the region of yesterday’s close. “As long as hearsay related to a potential further downgrade of Greece does not evolve into an actual announcement, investors in the Athens market are expected to have an unpleasant time”, according to its morning report.
Kyprou Securities says that “low volume activity and a possible attempt to limit yesterday’s losses, could become evident during the session, with the lack of any newflow catalysts limiting a sustainable upside scenario.”
Across the board, The General Index is shaped at 1452.64 posting marginal gains of 0.12. The turnover currently stands at 30 million euro, while 56 shares retreat, 40 rise and 30 remain unchanged. Banks’ losses are at 2.08% (2.27% earlier).
Geniki Bank and Hellenic Postbank retreat, posting losses of 4.50% and 3.44% respectively, will ATE, Eurobank and Marfin Popular Bank decline by about 2.70%.
(capital.gr)
Athens General Index moves in a narrow range on Tuesday, after yesterday’s heavy losses.
Banks are once again under pressure as result of rumors for a possible downgrade of Greece’s rating.
Gains of PPC, Coca-Cola Hellenic and Hellenic Telecom in the FTSE20 index do not seem to counterbalance banks’ downward trend.
Pegasus Securities expects the General Index to reach the 1st support level (1.430units) intraday and gradually rise towards the region of yesterday’s close. “As long as hearsay related to a potential further downgrade of Greece does not evolve into an actual announcement, investors in the Athens market are expected to have an unpleasant time”, according to its morning report.
Kyprou Securities says that “low volume activity and a possible attempt to limit yesterday’s losses, could become evident during the session, with the lack of any newflow catalysts limiting a sustainable upside scenario.”
Across the board, The General Index is shaped at 1452.64 posting marginal gains of 0.12. The turnover currently stands at 30 million euro, while 56 shares retreat, 40 rise and 30 remain unchanged. Banks’ losses are at 2.08% (2.27% earlier).
Geniki Bank and Hellenic Postbank retreat, posting losses of 4.50% and 3.44% respectively, will ATE, Eurobank and Marfin Popular Bank decline by about 2.70%.
(capital.gr)