Banks rise by up to 3.90%, with Hellenic Postbank’s profits standing out, while MIG and Ellaktor move sharply upwards across FTSE20.
Pegasus Securities questions whether the General Index would find the fuels to develop yesterday΄s reaction to a notable ascending course, as the market΄s fundamentals and outlook still look unfavourable.
“Following crushing pressures asserted on the majority of large-cap equities during the past few weeks, it was only natural for the market to proceed with a technical relief rally, albeit on low trading volume, with NBG, Alpha Bank and Eurobank being in the spotlight” said Pegasus in its morning report.
It would be particularly beneficial if the trading volume increased and the market ended close to the session’s high, Pegasus noted, adding that the domestic market remains at a technical devaluative hyperbole that could provide a strong reaction at around 1,500 under the appropriate conditions.
Eurobank Equities notes that it remains cautious, as it fails to see catalysts for buying appetite, as long as uncertainty over the country΄s debt dynamics prevails.
Additionally, Kyprou Securities states that the ASE’s mid-term course is not changed. “The FTSE ASE 20 index could possibly slide further as long as uncertainties about the high State debt treatment continue. Higher than planned State deficit does not allow for much optimism”, Kyprou added.
Across the board, the General Index is at 1,365.6, up 1.39%, moving in green since the beginning of the trading session. The turnover stands at €39m, while a total amount of 76 shares rise, 20 decline and 17 remain unchanged.
Banks are at 1,041.37 units, up 3.72%. Besides Hellenic Postbank, National Bank gains 4.10% while ATEbank, Alpha Bank and Eurobank rise by 3.64%, 3.56% and 3.23% respectively.
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