Athens Stocks move in a very heavy turnover on Wednesday in an intensively volatile session, as the General Index attempted to reach the level of 1700 earlier.
Alpha Bank and Eurobank top FTSE20, while the banking sector fluctuates in a margin of more than 60 units.
Greek bond spreads narrowing along with the massive investment in bank shares were yesterday’s main features, according to Pegasus Securities.
It notes that “the vast majority of the large-cap equities has realized remarkable gains during the past two weeks, anticipating short-term profit taking moves to increase as we move further and commence to weigh heavy on the market΄s behavior”.
Kyprou Securities comments that profit taking is possible in the currently overbought Greek stock market, while it remains quite optimistic for the ASE’s long term course expecting even higher prices in the future. However, price retreats are definitely in the cards in the mid-term.
“The increase in trading activity adds to the positive sentiment and suggests that the positive momentum may continue today as investors await the European Council on Friday and as worries about the social unrest in Egypt ease”, says Eurobank Equities in its morning report.
Across the board, the General Index is at 1668.99, up 0.32% while the turnover stands at EUR120mn. A total amount of 72 shares post gains, 76 decline and 59 remain unchanged.
Alpha Bank and Eurobank top FTSE20, while the banking sector fluctuates in a margin of more than 60 units.
Greek bond spreads narrowing along with the massive investment in bank shares were yesterday’s main features, according to Pegasus Securities.
It notes that “the vast majority of the large-cap equities has realized remarkable gains during the past two weeks, anticipating short-term profit taking moves to increase as we move further and commence to weigh heavy on the market΄s behavior”.
Kyprou Securities comments that profit taking is possible in the currently overbought Greek stock market, while it remains quite optimistic for the ASE’s long term course expecting even higher prices in the future. However, price retreats are definitely in the cards in the mid-term.
“The increase in trading activity adds to the positive sentiment and suggests that the positive momentum may continue today as investors await the European Council on Friday and as worries about the social unrest in Egypt ease”, says Eurobank Equities in its morning report.
Across the board, the General Index is at 1668.99, up 0.32% while the turnover stands at EUR120mn. A total amount of 72 shares post gains, 76 decline and 59 remain unchanged.
