Athens Stocks reacts positive on Tuesday following yesterday’s losses, anticipating the government’s vote of confidence. The General Index gains more than 1.5%, attempting to overcome 1.250 units, albeit without success so far.
Market analysts estimate that the market moves aligned with developments about the Greek debt crisis and particularly the voting for the medium-term fiscal program by the Greek House. Additionally, the market is focusing on both the auction of Greek treasury bills today and the vote of confidence later this evening.
“We are on the razor’s edge,” notes Makis Sotiropoulos, head of accounts at Guardian Trust. The market moves focusing on the adoption of the medium-term program, he adds.
In a environment of social unrest and lack of substantial fundamentals, even if the developments are positive (passing of the mid-term program, release of the next aid instalment), “we can only expect a relief rally”, Makis Sotiropoulos says, adding that much will depend on the pace of reforms.
Pegasus Securities anticipates a quite nervous session, increasing the General Index΄s negative volatility. Technically, it expects the market to trade in the 1,215 - 1,240 units today, which consist the Index΄s intraday 1st support and pivot point levels respectively.
Across the board, the General Index is at 1,247.58 units, up 1.48%, moving into positive territory since the opening of the trading session. The turnover stands at just €21.7m, while a total amount of 60 shares rise, 38 decline and 36 remain unchanged.
Banks gain 1.87% at 937.04 units. Alpha Bank and Eurobank jump by 3.16% and 2.99 respectgively, while Piraeus Bank and National Bank rise by 2.00% and 1.75% respectively.
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