ASE Moves Upwards In A Thin Turnover
Domestic market reacts positively on Thursday, in the wake of Greek banks’ results and the developments in Portugal, ahead of the European Summit in Brussels.
National Bank posts gains of up to 2.6% at €6.82, while MIG and Ellaktor top FTSE20 with profits of 6.17% and 3.17% respectively.
“Despite the geopolitical concerns, NBG’s resilient set of results and yesterday’s banking index underperformance could give some reaction”, says Marfin Analysis in its morning report.
“Volumes are seen thin, while focus should remain on banks”, it adds, as Piraeus Bank released its 4Q10 results today before the bell.
Pegasus Securities commented that the financial results of National Bank, which beat market estimates, are effectively counterbalancing the negative effects coming from developments in Portugal.
“It is difficult to predict, however, whether NBG can alone drive the banking sector higher, as spreads of the GGBs are expected to rise, even if it turns out to be just a mediocre ascension”, it adds.
Across the board, the General Index is at 1607.41 points, gaining of 1.20%. The turnover remains low, at €24mn, while a total amount of 68 shares rise, 34 decline and 37 remain unchanged.
Banks are at 1358.30 units, up 1.64%. Attica Bank, National Bank and Piraeus Bank climb by 2.86%, 2.71% and 2% respectively, while Hellenic Postbank and Alpha Bank rise 1.98% and 1.84% respectively. Eurobank, ATEbank and Marfin Popular Bank post profits of 1.67%, 1.28% and 1.1% respectively. On the other hand, only Proton Bank declines, posting losses of 2.27%.
(capital.gr)
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