Athens Stocks recorded losses of 2.4% for week as the General Index attempted unsuccessfully to recover on
Friday, following its heavy losses on Thursday.
Friday, following its heavy losses on Thursday.
The General Index had been moving mostly in negative territory, posting losses of up to 1.7%, while it reversed in green momentarily, before ending with small losses.
The joint press conference of EU/IMF/ECB officials today was in the spotlight, especially their statement about the need of a EUR50bn privatization program.
Pegasus Securities comments that the relief rally can be considered completed and the market’s course depends on the restructuring of state holdings, involving listed companies as ATEbank, Hellenic Postbank, Public Power Corp, OPAP and the two water supply corporations.
Pegasus notes that a speedy and successful restructuring will help the market to regain its upward trend, while OPAP and Hellenic Postbank seem more likely to proceed with privatization because of their clear structure and value.
Across the board, the General Index ended at 1621.90 units, down 0.62%. Approximately 42.26mn units worth EUR124.88mn were traded on Friday, while a total amount of 85 rose, 77 declined and 122 remained unchanged.
Banks ended at 1423.30, posting small losses of 0.25%. Bank of Cyprus and Eurobank rose by 0.62% and 0.46% respectively, while Alpha Bank and Marfin Popular Bank fell by 2.9% and 1.8% respectively. National Bank declined by 0.54%.
source: CAPITAL
