Athens market moved upwards on Thursday, in an enhanced turnover compared with the recent sessions.
The General Index ended close to session’s high with only six shares of its composition ending in red, while banks had been posting intraday gains of 3.96% as ATE Bank, MIG and Eurobank topped FTSE20’s profits.
Athens Exchange was barely affected by European accumulation trends, while the unrest in Middle East and North Africa didn’t weigh on the domestic market.
However, market analysts commented that the today’s course of the General Index fits to the recent thin turnover pattern, expecting volatility to maintain in the near future.
They note that the Greek market hasn’t found any reliable catalyst to maintain a clear trend, mainly because of the delays and disagreements among European members to proceed with measures against the euro debt crisis.
“We are seeing a delayed positive impact because Greece is thinking of exploiting assets to cut debt and boost growth," Kostas Zouzoulas, head of analysis at Axia Ventures Group, told Dow Jones Newswires.
"The key themes for the Athens bourse in the next few months will be state asset development, the prospects of a comprehensive EU bailout and the domestic implementation of structural reforms", he added.
Across the board, the General Index ended at 1662.62 units, up 2.7%. Approximately 39.46mn units worth EUR130mn were traded, while a total amount of 126 shares rose, 115 remained unchanged and 43 declined.
Banks climbed by 3.48%, ending at 1453.23 units. ATE Bank and Eurobank stood out, soaring 10.39% and 6.13% respectively, while Hellenic Postbank and Attica Bank gained 5.85% and 4.81% respectively. Alpha Bank and Piraeus Bank rose by 4.32% and 3.85%, while National Bank and Bank of Cyprus posted profits of 3.17% and 2.5% respectively.
The General Index ended close to session’s high with only six shares of its composition ending in red, while banks had been posting intraday gains of 3.96% as ATE Bank, MIG and Eurobank topped FTSE20’s profits.
Athens Exchange was barely affected by European accumulation trends, while the unrest in Middle East and North Africa didn’t weigh on the domestic market.
However, market analysts commented that the today’s course of the General Index fits to the recent thin turnover pattern, expecting volatility to maintain in the near future.
They note that the Greek market hasn’t found any reliable catalyst to maintain a clear trend, mainly because of the delays and disagreements among European members to proceed with measures against the euro debt crisis.
“We are seeing a delayed positive impact because Greece is thinking of exploiting assets to cut debt and boost growth," Kostas Zouzoulas, head of analysis at Axia Ventures Group, told Dow Jones Newswires.
"The key themes for the Athens bourse in the next few months will be state asset development, the prospects of a comprehensive EU bailout and the domestic implementation of structural reforms", he added.
Across the board, the General Index ended at 1662.62 units, up 2.7%. Approximately 39.46mn units worth EUR130mn were traded, while a total amount of 126 shares rose, 115 remained unchanged and 43 declined.
Banks climbed by 3.48%, ending at 1453.23 units. ATE Bank and Eurobank stood out, soaring 10.39% and 6.13% respectively, while Hellenic Postbank and Attica Bank gained 5.85% and 4.81% respectively. Alpha Bank and Piraeus Bank rose by 4.32% and 3.85%, while National Bank and Bank of Cyprus posted profits of 3.17% and 2.5% respectively.
