Greek Stocks move in a corrective mood on Thursday as the General Index moves in negative territory since the beginning of the session, following yesterday’s unsuccessful attempt towards 1700 units.
Banks post losses of more than 3%, while the biggest part of the board is in red.
Kyprou Securities comments that a price retreat is possible due to profit taking or delays in European Union level decisions about EFSF, but remains optimistic about the ASE’s mid-term and long-term course, according to its morning report.
“Counterbalancing forces are expected to determine the market΄s course during today΄s session, as pressures deriving from the introduction of 807m new common shares of Piraeus Bank and UBS΄s explanatory termination of coverage of MIG (with the last price target standing at x 8 yesterday΄s close), could be eased-off by trading on specific equities related to the restructuring of MSCI, due to be announced later today”, says Pegasus Securities in its morning report.
Pegasus expects volatility to remain the market’s main characteristic and the General Index to trade in the 1,670-1,710 units today.
Eurobank Equities notes that the domestic sentiment seems to have stanilized, while some profit taking on selective names should not be excluded.
Across the board, the General Index is at 1665.43, down 1.49% in a turnover of EUR73mn. A total amount of 88 shares decline, 29 rise and 33 remain unchanged.
Banks fall by 3%, at 1459 units. Eurobank, Alpha Bank and National Bank decline by more than 3%, while Bank of Cyprus, Piraeus Bank and Marfin Popular Bank retreats by 2.92%, 1.83% and 1.77% respectively.
Banks post losses of more than 3%, while the biggest part of the board is in red.
Kyprou Securities comments that a price retreat is possible due to profit taking or delays in European Union level decisions about EFSF, but remains optimistic about the ASE’s mid-term and long-term course, according to its morning report.
“Counterbalancing forces are expected to determine the market΄s course during today΄s session, as pressures deriving from the introduction of 807m new common shares of Piraeus Bank and UBS΄s explanatory termination of coverage of MIG (with the last price target standing at x 8 yesterday΄s close), could be eased-off by trading on specific equities related to the restructuring of MSCI, due to be announced later today”, says Pegasus Securities in its morning report.
Pegasus expects volatility to remain the market’s main characteristic and the General Index to trade in the 1,670-1,710 units today.
Eurobank Equities notes that the domestic sentiment seems to have stanilized, while some profit taking on selective names should not be excluded.
Across the board, the General Index is at 1665.43, down 1.49% in a turnover of EUR73mn. A total amount of 88 shares decline, 29 rise and 33 remain unchanged.
Banks fall by 3%, at 1459 units. Eurobank, Alpha Bank and National Bank decline by more than 3%, while Bank of Cyprus, Piraeus Bank and Marfin Popular Bank retreats by 2.92%, 1.83% and 1.77% respectively.
