Market failed to react due to PSI concerns
Despite the promising start, Athens Stock Exchange finally had a third decline in a row.
The uncertainty about the negotiations on PSI plus and the continuing speculations following it, maintained the nervousness in the banking sector. This was quite obvious by the fluctuations of the banking index, which finished in negative territory despite the intraday profit which was up to 2.83%.
On FTSE20 index Titan had gains, while the shares of FFgroup and NBG followed in positive territory, OTE moved upward also.
"While inside Christmas there was no significant progress in negotiations on the PSI +, the intense speculation about extend of the haircut to the nominal value of bonds, seem to affect short-term movement of the banks”, commented Merit Securities.
“Forthcoming PSI announcements have increased market nervousness and fluctuations of bank stocks, without being currently confirmed some change in the extent of the cut Greek debt in connection with the agreement of October 26”, said Beta Securities.
Beta also referred to negative investors’ psychology, combined with the various scenarios regarding the extent of Greek bonds haircut have lead to a conservative attitude that prices in the worst case scenario.
On the board, the General Index ended at 662,29 units, declining 0.50%. The index moved in intraday trade between 1.14% and -1.58%.
The bank’s index lost 0.46% at 235.67 units, near day’s low of 232.67 units.
On Wednesday the trading volume reached 17.04 million units worth 19.43 million euros, while 61 stocks finished with gains, 80 declined and 134 remained unchanged.
(capital.gr)
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L'andamento giornaliero alla Borsa di Atene.