Selective moves, low volumes and volatility in banking index summarize the trading activity in the Athens Stock Exchange on Wednesday.
The aftermath of the privatization program appears moderate, as the developments in the domestic political scene fuel uncertainty and weigh on the investment sentiment, while the interest in the announcement of financial results is considered limited, unable to reverse the overall picture.
It is indicative that the titles of the first package of privatizations (OTE, Piraeus and Thessaloniki Port, water supply companies) ended in negative territory, following yesterday’s profits, besides Hellenic Postbank which remained unchanged at €2.95.
The market’s inability to provide an upward reaction reflects the graveness of the situation, since the state deficit jumped to €7.2b for the four-month period, state debt reached 154% of GDP, while the widening of bond spreads and threats by rating firms worsen the sentiment, said Merit Securities.
Currently, even the support level of 1,280 units should not be considered as bold in this fluid environment, stated Merit, adding that a small upward reaction shouldn’t be ruled out once the market has hit so low levels.
Across the board, the General Index ended at 1,289.63 units, with profits of 0.62%, moving between gains and losses albeit into a narrow margin. Approximately 22.7 million units worth €87.66 million (of which €16.85 million in pre-agreed trade) were traded on Wednesday, while a total amount of 75 stocks declined, 58 rose and 148 remained unchanged.
Ellaktor topped FTSE20, with profits of 9.13%, while Alpha Bank gained 5.81%. Viohalco and Marfin Popular Bank followed, posting profits of 3.33% and 3.17% respectively. MIG and Mytilineos rose by 1.89% and 1.61% respectively, Jumbo, National Bank, Motor Oil and Eurobank recorded gains around 1.25%.
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