Athens Stocks Post Minor Profits For Week
Greek Stocks closed at session low on Friday, despite banks’ upward reaction.
An eventful week ended with a positive sign for the Greek market, which was afficted by the turn of developments on the formation of the new interim government amid intense speculation.
Henceforth, analysts comment, attention turns to the first steps of the new coalition government and the pace of implementation of commitments.
They focus on whether the new cabinet would be able to operate smoothly, as it now includes executives from three political parties, and whether these parties would refrain from interfering, letting new PM Lucas Papademos to perform in the manner expected by the market.
In its weekly report, Beta Securities said that the course of the Greek market would be determined more by the international developments, as the extent and magnitude of Italian crisis overcomes domestic or other micro developments.
The markets are at a turning point, said the firm, adding that high Italian interest rates could accelerate political decisions that wouldn’t exclude other debt stricken countries.
On the board, the General Index closed with losses of 0.86% at 755.65 units (session low), after fluctuations into a margin of 12 points or 1.59%
Approximately 28.85 million units of total value €35.94 million, while a total amount of 73 shares rose, 70 declined and 132 remained unchanged.
Banks, which posted intraday profits of 4.46%, ended at 333.64 units with gains of 1.69%. Profits for week amounted to 5.51%.
Hellenic Postbank and MIG topped FTSE20 with major profits of 14.07% and 13.07%, while Alpha Bank, Folli Folli and National Bank rose by 2.86%, 2.56% and 2.45% respectively. Marfin Popular Bank, Bank of Cyprus and Mytilineos posted minor profits.
Viohalco, Jumbo and Ellaktor remained unchanged.
On the other hand, Eurobank fell by 4.58%, while Titan and Coca-Cola 3E declined by 3.67% and 3.53% respectively. Losses of OPAP and Motor Oil amounted to 2.03% and 1.61% respectively, PPC ended down 1.05%.
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L'andamento alla Borsa di Atene.