Greek Stocks Maintain Positive Momentum On Weak Turnover
Athens market moved upwards for a second consecutive session, however the session was characterized again by thin turnover.
Banks ended with profits of 2.34%, while OPAP, National Bank and OPAP stood out across FTSE20 with gains of more than 3%.
The sentiment regarding the solving of Greece’s fiscal crisis is far from reassuring, said Merit Securities, adding that this is reflected in the Greek market despite the technical upward reaction.
Not much has changed from a technical point of view since last week, while the short-term support is set at 1,480 units and resistance at 1,550 units, said Merit, which comments that low turnovers and rotation of upward and downward sessions are not helpful in drawing conclusion on the market’s short-term trend.
The focus is expected to be on the privatization program, which will be aggressive, aiming for revenues of €15b by 2013. Merit notes that the shares involved in privatization scenarios have outperformed in the last two months compared with the General Index.
Across the board, the General Index ended with gains of 1.65%, at 1,531.04, moving in positive territory throughout the trading session, while intraday profits reached 2.26%. Approximately 18.7 million units worth €73.98m were traded on Wednesday, while a total amount of 89 shares rose, 56 declined and 137 remained unchanged.
Banks ended at 1,231.44 units, up 2.34%. Proton Bank, National Bank and Piraeus Bank recorded profits of 3.23%, 2.19% and 3.03% respectively, while Bank of Cyprus, Eurobank and Marfin Popular Bank gained 2.85%, 2.44% and 2.33% respectively. On the other hand, Alpha Bank declined by 0.44%.
(capital.gr)