The General Index disappointed expectations for a second consecutive upward session, as it was forced to a new low for the year, despite intraday profits of 1.77%.
The budget deficit is increasing instead of decreasing, so the distrust of foreign investors towards Greek bonds and stocks is increasing instead of decreasing, said Guarding Trust Securities, adding that everyone is looking for positive news that could reverse the sentiment.
The publications for or against the Greek dent restructuring continue with the same driving pace, but the matter ceased to be news anymore, Guardian noted.
The emerging division within the troika and the delay in decision making could be harmful for the economy and the Greek exchange, said Merit Securities.
The General Index’s fall to a new 14-year low is not surprising, said Merit, noting that low turnovers rule out any positive reaction, as the majority of buyers maintain a wait-and-see stance until the arrival of positive news. It also estimates that increased volatility in bank shares is likely to continue as the situation is unstable.
Across the board, the General Index ended at 1,328.10 units, down 1.39%. Approximately 30.84 million units worth €108.35 million, while a total amount of 77 shares closed in positive territory, 58 declined and 146 remained unchanged.
Banks ended at 980.02 units, down 2.39%, despite early profits of 3.90%.
Ellaktor topped FTSE20 with profits of 2.77%, while Mytilineos gained 1.17%. Piraeus Bank and OTE rose by 0.97% and 0.86%, while Hellenic Postbank and Motor Oil move upwards by about 0.7%.
On the other hand, Viohalko and Marfin Popular Bank lost more than 4%, ATEbank and Alpha Bank fell by 3.64% and 3.56% respectively, while Coca-Cola 3E, MIG and Bank of Cyprus retreated by more than 3%.
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