With the Hellenic Postbank having the leading role, with profits of 15%, the Athens Stock Exchange reacts sharply upwards on Tuesday in the wake of the first “wave” of privatizations announced yesterday by the Greek government.
Banks recorded early profits of 5.6%, while market analysts comment that the sale of state participation in Hellenic Postbank is interpreted as the trigger for the long-awaited and much-talked consolidation in the banking sector. The performance of National Bank, Alpha Bank and Eurobank is also indicative of the market’s course.
Banks recorded early profits of 5.6%, while market analysts comment that the sale of state participation in Hellenic Postbank is interpreted as the trigger for the long-awaited and much-talked consolidation in the banking sector. The performance of National Bank, Alpha Bank and Eurobank is also indicative of the market’s course.
In the wake of yesterday’s announcements, Thessaloniki Port, EYAPS, OTE and OLP stand out in the composition of the General Index. However, Coca Cola 3E suffers significant pressures, which are attributed to the new tax measures on soft drinks.
Despite the reaction triggered by the government’s announcement in securities directly involved with the privatization program, the market is also concerned by the new tax measures and their impact on domestic demand. The concern is intensified by the fact that a large amount of measures should be specified or even extended in the near future.
They also note that a part of concern is attributed to the political developments and whether the country will be able to meet the international lenders’ expectations for a national consensus.
Across the board, the General Index moves upwards by 1.88%, at 1,304.22 units. The turnover stands at €32.2m, while a total amount of 72 shares rise, 33 decline and 39 remain unchanged.
Banks gain 3.12%, at 966.74 units. Hellenic Postbank soars, with profits of 9.615, while Eurobank, ATEbank and National Bank rise by 4.40%, 4.17% and 3.31% respectively.
CAPITAL
