Greek Stocks Attempt To Regain 1,500 Units
Athens market reacts nervously on Tuesday after the General Index recorded cumulative losses of 3.89% in the previous two meetings.
In its attempt to regain 1,500, the General Index is helped by the profits of banks, which fluctuate into a margin of 53 units or 4.4%.
“The market will most probably reiterate the negative sign, while volumes are expected to be at the same, more or less, levels”, said Marfin Analysis in its morning report, while Kyprou Securities remains cautious on the ASE expecting further potential drop. “However, investors with higher than average appetite for risk can gradually, slowly and cautiously build a small position on the ASE at the current price level”, Kyprou adds.
Eurobank Equities comments that the market sentiment remains largely unchanged and in the absence of any market moving news flow, ASE would probably trade around current levels with low trading volumes.
Pegasus Securities notes that the market not only retains its negative trend,” but more importantly, accelerates its descending dynamic, as talks over a possible restructuring of Greece΄s international bailout gain momentum.”
“The negative mix of both macro and corporate news clearly misses a positive catalyst that could alter the market΄s direction, even on a short-term basis”, Pegasus adds.
Across the board, the General Index is at 1,502.77 units, up 0.73% on a turnover of €33m, while a total amount of 76 shares rise, 56 decline and 33 remain unchanged.
Banks moved upwards by 1.99%, at 1,223.76 units. Bank of Cyprus and Hellenic Postbank gain 3.75% and 3.49% respectively, while Eurobank, Piraeus Bank and Alpha Bank post profits of 1.69%, 1.52% and 1.35% respectively.
(capital.gr)