The intra-government disagreements and intraparty disputes on the new medium-term program intensify concern in the market and trigger fresh pressures on the Athens Stock Exchange.
Market analysts speak of a setting of political impasse, whose cost is reflected on the board, as it raises doubts whether the economic team will be able to pass the new measures, with the government front remaining unbroken.
The accomplishment of budgetary targets, not just for this year, would be more difficult under these conditions, analysts explain, while new “thorns” appear in the issue of a new support program to the country by the EU/ECB/IMF.
Current sentiment in the market doesn’t favour a consistent upward reaction, and continues to give “room” for short-term opportunistic moves, according to analysts.
The market has some reservations on the adoption of medium-term program and its final version, said Pegasus Securities in a report. It is not clear whether the necessary correlations will be achieved in order to ensure the majority of votes, it added.
Kyprou Securities stated that ASE investors maintain a “wait and see” stance on their investments expecting an approval of the Mid-term plan from the Greek parliament, reiterating its cautious view on the ASE till that approval.
Across the board, the General Index ended with losses of 1.98% at 1,297.05, after fluctuations into a margin of 31 units (2.33%) Approximately 20.7 million units worth €70.86 million were traded on Tuesday, while a total amount of 90 shares declined, 33 rose and 157 remained unchanged.
Banks’ fluctuations reached 4.77%, ending at 984.61 units, down 3.68%. Eurobank and Hellenic Postbank suffered the heaviest losses, falling by 5.37% and 4.56% respectively. Bank of Cyprus and National Bank declined by 4.44% and 4.09% respectively, while ATEbank remained unchanged at €1.32.
Coca Cola 3E and Public Power Corp were the only FTSE20 shares to end in positive territory, posting profits of 1.69% and 0.10% at session’s high. On the other hand, OTE dropped by 6.24%, while Viohalco and Mytilineos recorded losses of c.3%.
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