The opening of trading in the Athens Stock Exchange has been weak, as uncertainty about developments in the domestic political scene weighs on the already negative sentiment.
With low turnover, the General Index moves between profits and losses close to new lows. Banks are in a similar mood, while Ellaktor stands out in FTSE20. ATEbank and OTE are under pressure.
“We think that as long as country’s political parties do not appear supportive and united to the measures proposed, implying high implementation risk, sessions of similar characteristics should be awaited”, said Marfin Analysis in its morning report.
“Some interest could be seen on stocks whose results were announced yesterday post market close (Alpha Bank, Foulris), or are going to be announced today (EFG Eurobank, ATEbank and Motor Oil)”, it added.
The market’s inability to maintain a “decent upward behaviour” at the close of the trading session yesterday is indicative of investors’ aversion that dominates the market, Pegasus Securities commented.
With the Greek State effectively and continuously postponing developments concerning the long-awaited privatization plan, little has changed in terms of market fundamentals, Pegasus adds.
Across the board, the General Index is at 1,283.01 units, with marginal profits of 0.10%. The turnover stands at €37.80 million, while a total amount of 49 shares rise, 82 decline and 29 remain unchanged.
Banks move slightly upwards by 0.38%, at 949.69 units. Alpha Bank and National Bank gain 1.53% and 1.10% respectively, while ATE bank and Bank of Cyprus decline by 2.04% and 0.92% respectively.
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