The trading activity in the Athens Stock Exchange remained weak on Tuesday,
after a four-day break of the trading.With the turnover below €42m, the General Index recorded marginal losses in the wake of the revision of 2010 state deficit and amid rise of Greek bond spreads and CDS.
The announcement of Greece’s 2010 deficit could set the tone for this week, said Marfin Analysis in its morning report, adding that “better visibility vis-à-vis government’s medium term fiscal and privatisation plans could gradually improve sentiment if targets and the way to reach them are considered achievable.”
Analysts note that the trading activity is expected to rise gradually in the coming period, however they estimate that the weakness in the Greek board will hardly change until the details of the new fiscal medium-term package are revealed, showing concrete evidence regarding the fate of Greek debt.
They also state that the domestic market continues to move differentiated by the course of international markets and a possible strengthening of turnover would probably trigger volatility.
Across the board, the General Index ended at 1,425.57 units, down 0.40%, after sign alternations into a narrow margin of 16 units or 1.11%. Approximately 11.41units worth €41.81m were traded on Tuesday, while a total amount of 58 shares declined, 62 rose and 162 remained unchanged.
Banks ended at 1,060.24 units, down 0.60%. Only Eurobank, Geniki Bank and Bank of Cyprus ended in green, posting small profits of 0.88%, 0.79% and 0.43% respectively. On the other hand, ATEBank fell by 2.13%, while Piraeus Bank, Proton Bank and National Bank declined by 1.80%, 1.75% and 1.30% respectively.
