Athens Market Rises, Helped By Banks
Greek Stocks move upwards on Friday, as the General Index rises by more than 1.4% on thin turnover.
Banking index is enhanced by 3.7%, while Eurobank tops FTSE20, with early profits of 5.34%. Bank of Cyprus, Ellaktor, Alpha Bank and National Bank follow.
Kyprou Securities expects consolidation at current levels to continue. “Strong technical support just below the current index levels at 624 allows for some optimism but any move below that point should trigger sales and we should keep it in mind as a stop loss for our ASE portfolio”, said Kyprou.
Pegasus Securities considers yesterday session as promising, as it affirmed our view that current levels consist a negative hyperbole that will be, partially at least, corrected sooner than later.
“The interest demonstrated on specific banking equities (EFG Eurobank, Alpha Bank) as well on companies outside the banking sector whose fundamentals remain strong (PPC, Motor Oil) render us optimist as to the possibility of bid-side interest gradually spilling-over across the rest of the FTSE20 stocks”, Pegasus noted.
Across the board, the General Index is at 1,420.68 units, up 1.37%. Turnover stands at €24m, while a total amount of 86 shares rise, 37 decline and 31 remain unchanged.
Greek banks are at 1,064.17 units, up 3.41%. Eurobank soars by 5.25% , while Alpha Bank follows with profits of 4.08%. Bank of Cyprus, Proton Bank and Attica Bank gain 3.83%, 3.64% and 3.61% respectively, while National Bank and Geniki post profits of 3.38% and 3.31% respectively.
(capital.gr)