ASE Breaks Political Deadlock
After an eventful weekend, Athens Stocks react positively on Monday to rapid political developments, which lead to a change in government and reinforce expectations for a smooth implementation of the resolutions of the EU Summit of October 26.
Market analyst characterised the rise in the board as a relief reaction, although the details of the political agreement are still unknown.
“Country’s next leader issue is still pending, yet there are some rumours citing that Mr. Papadimos has been already approached. Major political parties agreement to form a unity government could tone up the market, yet the fact that there are several issues that need further discussion could somehow stress it”, said Marfin Analysis in a morning report.
Beta Securities expects the market to welcome the decision for the formation of a coalition government that will secure the disbursement of the 6th tranche of aid, while “probabilities for the most adverse scenarios that the market had started to price in already seem to be declining for the moment.”
“On the other hand, the period until February 19th might place the economy on a standstill while international attention will be gradually shifting towards Italy that is in a fragile economic condition”, Beta added.
On the board, the General Index rises by 1.96% at 765.32, with early profits of 3.24%, while banks posted major early gains of 8.08%
The trading turnover stands at €18.9 million, while a total amount of 70 shares rise, 18 decline and 11 remain unchanged.
(capital.gr)