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tommy271

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ASE Firmer While Anxiety Intensifies



After an eventful session on Wednesday, the General Index ended on positive ground, as rumours and information about developments in Brussels and Germany created an environment of intense volatility for banks and Greek market by extension. Similarly, volatility was increased also in European bourses.

The General Index demonstrated consolidation trends at the opening, while investors maintained a waiting stance ahead of the EU Summit. Market sources noted that the course of the index had been particularly encouraging, given the information about a haircut that would exceed 50%.

Later, banks reacted impressively and helped the market rise, while fresh rumours about the EFSF went around. Investors seem to focus rather on banks’ future than country’s future, market analysts noted.

The General Index ended with a rise of 2.35%, while a European Union official said that the Greek debt haircut could not be solely on voluntary basis. The trading turnover stood at €41 million. Intraday losses reached 3.06%, despite early losses of 1.09%. A total amount of 102 shares ended in green, 60 declined and 20 remained unchanged.

Greek banks recorded profits of 3.86%, with intraday losses of 2.5% and gains of 6.54%, while FTSE20 index rose by 2.9%.

National Bank soared with profits of 8.43%, while Eurobank and Alpha Bank rose by 6.93% and 4% respectively. OPAP’s profits reached 5.74%, while ELPE, OTE, Titan and Folli Follie also recorded significant gains. Coca Cola also reversed in green, just before the closure, contributing in overall market profits.

(capital.gr)

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