A drop of shares and indices to 14-year lows preceded on Monday, in an environment of uncertainty and low trading activity.
This environment maintained at Tuesday’s meeting, however the banks’ reaction was strong enough to push the General Index towards 1,350 units.
Market analysts comment that the Greek market remains “trapped” in a climate of uncertainty regarding the fate of Greek fiscal issues, watching the developments at European Union level and anticipating the announcement of specific measures of the medium-term program.
They also note that the turnover levels in recent sessions are not suitable for drawing conclusions regarding the market’s trend, increasing possibility of volatile sessions in the near future.
However, they consider positive the outcome of today’s auction of Greek Treasury bills by the Greek state, which raised €1.625b at a slightly lower rate than the previous auction. But this development was unable to reverse the intraday trend.
Across the board, the General Index ended close to session’s high, at 1,346.87 units, up 1.25%, after fluctuation between profits and losses into a margin of 28.7 units or 2.16%. Approximately 20.25 million units worth €66.99 million were traded on Tuesday, while a total amount of 76 shares rose, 54 declined and 151 remained unchanged.
Banks ended at session’s high, at 1,004.04 units, up 3.82%, moving in positive territory throughout the trading session. ATEbank and Proton Bank stood out, posting profits of 7.84% and 7.14% respectively, while Eurobank and Alpha Bank rose by 6.56% and 4.89% respectively. National Bank gained more than 4%, Hellenic Postbank and Bank of Cyprus recorded profits of 3.35% and 3.17% respectively.
Besides banks, Viohalko topped FTSE20, with profits of 4.11%, while Hellenic Petroleum and OPAP gained 2.87% and 1.81%. On the other hand, Jumbo and Coca-Cola 3E declined by 1.70% and 1.53% respectively.
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