Volatility is once more the main characteristic as expected, while banks fluctuate in a margin of 2.6%. The risk is on the
down side due to the accumulated recent gains.
Analysts comment that the trend is firmly related to the course of the bond market as the narrowing of Greek bond spreads helped the banks rise and allowed the diversion of buying interest.
Pegasus Securities expects the market to move in a corrective mood with the General Index possibly closing on the opposite direction of the one it opens. It also expects volatility to be the market’s main characteristic during today’s session.
Pegasus remains positive as to the market’s midterm outlook and considers thath the Index succeeded to withhold pressures asserted on specific large-cap equities due to their remarkable recent rally, with trading volume remaining above the EUR200mn mark for a 2nd consecutive session.
Greek Government Bonds seem to be in focus again from international investors and this is an optimistic sign for the ASE’s long-term course, according to Kyprou Securities.
It says that it remains cautious for the local market justified by a possible profit taking anytime soon but this does not alter our long-term positive view.
Across the board, the General Index is at 1656.73, down 0.44 in a turnover of EUR47mn. A total amount of 51 shares rise, 82 decline and 65 remain unchanged, while banks post small losses of 0.23, currently at 1491.59.
source: Capital
