Athens Stock Exchange breathed again on Thursday, as the General
Index regained 1,550 units in a session that was focused on Portugal’s request for a rescue loan and European Central Bank’s decision to raise interest rates.
Banks outperformed on Thursday’s session, with accumulative profits of 7.4% in the last two meetings.
Market analysts note that the rise of the domestic market is mainly triggered by the last week’s heavy losses. They comment that the ASE remains vulnerable to pressures as low turnovers continue in the absence of positive domestic catalysts, while Greek Stocks show little correlation with the major international indices.
The also explain that Portugal’s formal request for EU support raises expectations that debt crisis in euro-zone is heading towards an end.
"What we saw today was a rebound after Portugal...but also after recent selling pressure on Greek stocks," a research director told Dow Jones Newswires. "I think this rally could last for a few days." He adds that gains in European banking stocks have also helped sentiment.
Pegasus Securities talked of absence of substantial news in its morning report. Pegasus doesn’t rule out the diffusion of interest in state-owned companies as we get closer to April 15, the date of announcement of the privatization program, as the upward trend of ASE continues.
Across the board, the General Index ended at 1,5520.20 units, up 1.54%, moving in positive territory throughout the trading session. Approximately 32.9 million units worth €113.07m were traded on Thursday, while 114 shares rose, 36 declined and 133 remained unchanged.
Banks gained 3.53%, at 1,281.57, with intraday profits of 4.71%. Eurobank and Marfin Popular Bank climbed by 5.44% and 4.60% respectively, while Alpha Bank and National Bank gained 3.92% and 3.90% respectively. Hellenic Postbank and Piraeus recorded profits of 3.61% and 2.92% respectively.
Across FTSE20, MIG posted profits of 3.90%, while Motor Oil, Ellaktor and Mytilineos were enhanced by 2.49%, 1.95% and 1.48% respectively.
Index regained 1,550 units in a session that was focused on Portugal’s request for a rescue loan and European Central Bank’s decision to raise interest rates.
Banks outperformed on Thursday’s session, with accumulative profits of 7.4% in the last two meetings.
Market analysts note that the rise of the domestic market is mainly triggered by the last week’s heavy losses. They comment that the ASE remains vulnerable to pressures as low turnovers continue in the absence of positive domestic catalysts, while Greek Stocks show little correlation with the major international indices.
The also explain that Portugal’s formal request for EU support raises expectations that debt crisis in euro-zone is heading towards an end.
"What we saw today was a rebound after Portugal...but also after recent selling pressure on Greek stocks," a research director told Dow Jones Newswires. "I think this rally could last for a few days." He adds that gains in European banking stocks have also helped sentiment.
Pegasus Securities talked of absence of substantial news in its morning report. Pegasus doesn’t rule out the diffusion of interest in state-owned companies as we get closer to April 15, the date of announcement of the privatization program, as the upward trend of ASE continues.
Across the board, the General Index ended at 1,5520.20 units, up 1.54%, moving in positive territory throughout the trading session. Approximately 32.9 million units worth €113.07m were traded on Thursday, while 114 shares rose, 36 declined and 133 remained unchanged.
Banks gained 3.53%, at 1,281.57, with intraday profits of 4.71%. Eurobank and Marfin Popular Bank climbed by 5.44% and 4.60% respectively, while Alpha Bank and National Bank gained 3.92% and 3.90% respectively. Hellenic Postbank and Piraeus recorded profits of 3.61% and 2.92% respectively.
Across FTSE20, MIG posted profits of 3.90%, while Motor Oil, Ellaktor and Mytilineos were enhanced by 2.49%, 1.95% and 1.48% respectively.
source: CAPITAL
