Greek Banks’ Losses Amounted To 32.6% For Month
Greek Stocks closed at session low on Monday, as relief for the resolutions of the European Union Summit last week gives way to concern about the unclear points of the agreement.
However, the General Index posted marginal losses, supported by FTSE20 shares. OPAP, OTE and Ellaktor stood out across the big cap index.
“A more careful evaluation of October 27th agreement will point out its inefficiencies, since there are several issues that need to be further clarified and no immediate solution has been given on the liquidity issues of the indebted countries”, said Beta Securities in its morning report.
The issue of banks’ recapitalization would remain the centre of attention, according to Beta.
Similarly, Marfin Analysis noted that a number of details needs to be clarified further, despite the fact that a solution has been provided.
The domestic market is expected to remain volatile, with the interest focusing on course of trading turnover, along with news about new negotiations on Greek debt haircut, finalization of EU Summit decisions and developments in Greek Parliament.
On the board, the General Index ended with losses of 0.31% at 808.58 units, after fluctuations into a margin of 21 units.
Approximately 34.47 million units of total value €69.52 million traded on Monday, while a total amount of 85 shares declined, 61 rose and 130 remained unchanged.
Banks plunged with losses of 9.96% at 316.20 points. Accumulated losses for month reached 32.61%.
OPAP and OTE topped FTSE20 with profits of 7.69% and 6.67% respectively, while Ellaktor gained 6.25%. Jumbo rose by 3.42%, while Titan and Motor Oil posted profits of 2.55% and 2.35% respectively. Profits of Mytilineos, Viohalco and Folli Follie amounted to 1.2%, 0.31% and 0.11% respectively.
On the other hand, Piraeus Bank and Hellenic Postbank posted heavy losses of 15.66% and 15/09% respectively, Eurobank fell by 10.53%, while National Bank, Marfin Popular Bank and Bank of Cyprus lost 9.95%, 9.42% and 9.09% respectively. Alpha Bank declined by 8.33%, while MIG’s losses amounted to 7.44%. ELPE, PPC and Coca-Cola 3E recorded smaller losses of 2%, 0.64% and 0.35% respectively.
(capital.gr)