Greek Market Ends Its Upward Streak
Athens Exchange moved in a corrective mood on Tuesday, as the General Index recorded losses of 1% interrupting a five-session upward streak. Consolidation efforts led banks to post losses of 2%.
Analysts note that Eurogroup leaders failed to calm the markets, despite the fact that expectations for this meeting were not very high. "The bourse’s fall on Tuesday isn’t a huge surprise since it needs to pause for breath after a strong week of gains. I expect a mild correction over the next few sessions," an analyst told Dow Jones Newswires.
The Greek market anticipates a very positive outcome of the auction of Greek T-bills, Mr. Manos Hatzidakis, investment strategist at Pegasus Securities, told Capital.gr. The positive sentiment began to emerge since the successful issuance last week, he added.
Kyprou Securities noted in its morning report that the market would cautiously digest recent updated newsflow and a mild negative biased session couldn’t be ruled out.
Across the board, the General Index ended 1% lower, at 1,443.0 units. Approximately 40mn units, worth EUR88.8mn were traded on Tuesday, while a total amount of 44 shares posted gains, 118 declined and 138 remained unchanged.
Banks declined by 2.10% at 1236.15 points. Alpha Bank and Eurobank fell by 4.21% and 3.46% respectively, while National Bank and Piraeus Bank declined by 2.02% and 1.94% respectively.
FTSE20’s Titan and Viohalco fell by 3.41% and 2.79% respectively, while Mytilineos and Ellaktor decline by over 1%. On the other hand, OPAP, Motor Oil and Hellenic Communications ended on positive grounds.
(capital.gr)