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Greek Banks Burden ASE
Greek Stocks are trapped in a vortex of pressures that banks continue to suffer on Friday.
Greek banks lose up to 3.1%, while Greek bond spreads and CDS widen sharply, amid uncertainties about the rollover of Greek debt.
At the same time, National Banks declines below €3, reaching €2.92 with losses of 2.99% earlier, while its capitalization stands at €2.81 billion.
“The sell-off witnessed on the majority of banking equties continues to pester investors, especially as the momentum of markets abroad remains negative”, said Pegasus Securities in a report, despite specific large cap non-banking equities demonstrating a willingness to gradually absorb pressures and possibly proceed with ascending reactions.
With today΄s Jackson Hole conference being in the spotlight, Pegasus expects EU markets to continue to be driven by volatility, with the Athens bourse being further affected by the continuous weakness of the domestic banking sector.
The absence of any positive domestic catalyst makes short-term any potential upward reaction, said the firm.
On the board, the General Index declines by 0.58% at 884.01 units, moving into negative territory since the opening with early losses of 1.38%. The turnover stands at €16.4 million, while a total amount of 58 shares decline, 34 rise and 35 remain unchanged.
Banks are at 539.35 units with losses of 2.23%, while only Bank of Cyprus in green (+0.87%). Hellenic Postbank falls by 4.42%, while Eurobank, Alpha and Piraeus Bank decline by 3.8%, 3.7% and 3.33% respectively.
(capital.gr)
Greek Stocks are trapped in a vortex of pressures that banks continue to suffer on Friday.
Greek banks lose up to 3.1%, while Greek bond spreads and CDS widen sharply, amid uncertainties about the rollover of Greek debt.
At the same time, National Banks declines below €3, reaching €2.92 with losses of 2.99% earlier, while its capitalization stands at €2.81 billion.
“The sell-off witnessed on the majority of banking equties continues to pester investors, especially as the momentum of markets abroad remains negative”, said Pegasus Securities in a report, despite specific large cap non-banking equities demonstrating a willingness to gradually absorb pressures and possibly proceed with ascending reactions.
With today΄s Jackson Hole conference being in the spotlight, Pegasus expects EU markets to continue to be driven by volatility, with the Athens bourse being further affected by the continuous weakness of the domestic banking sector.
The absence of any positive domestic catalyst makes short-term any potential upward reaction, said the firm.
On the board, the General Index declines by 0.58% at 884.01 units, moving into negative territory since the opening with early losses of 1.38%. The turnover stands at €16.4 million, while a total amount of 58 shares decline, 34 rise and 35 remain unchanged.
Banks are at 539.35 units with losses of 2.23%, while only Bank of Cyprus in green (+0.87%). Hellenic Postbank falls by 4.42%, while Eurobank, Alpha and Piraeus Bank decline by 3.8%, 3.7% and 3.33% respectively.
(capital.gr)