Following four consecutive downward sessions, the General Index reacts positively on Tuesday, amid the political developments regarding the adoption of the medium-term fiscal plan. Greek banks push the market higher.
“The market proceeded yesterday with a textbook move, as investors΄ unwillingness to undertake risk prior to the pivotal medium-term plan and privatisation program Greek Parliament votes led the GI to easily miss its early gains” said Pegasus Securities in its morning report.
It expects nervousness to remain at least until Thursday, considering, however, that positive background talk concerning the possibility of EU officials preparing a "Plan B", should austerity measures not be approved, could provide the market with some fuels.
“The performance of the domestic market is at this point tied to the vote on the 5-year austerity plan which is crucial for Greece to secure further financial support”, said Eurobank Equities.
Piraeus Securities commented that a rebound is likely with investors betting on a possible positive outcome in the approval of the fiscal reforms of the government.
On the board, the General Index is at 1,248.74 units, with profits of 1.86%. The turnovers stands at €27.4m, while a total amount of 70 shares rise, 29 decline and 30 remain unchanged.
Banks move upwards by 2.84%, at 957.03 units. Marfin Popular Bank gains 5%, while Hellenic Postbank, Eurobank and ATEBank rise by 3.85%, 3.57% and 3.31% respectively.
CAPITAL
