The General Index record losses on Thursday, as market’s dominant characteristic is volatility, which is expected to remain until the passing of the medium-term program, according to market analysts.
Trading opened in a declining mood, as the upcoming vote in the parliament for the medium-term package refuels uncertainty and maintains concern over the Greek crisis. Greek PM George Papandreou will meet his European counterparts during the two-day EU Summit that commences today in Brussels. European leaders are already in talks with private creditors for the possibility of Greek debt holding.
The domestic market maintains a waiting stance after securing short-term gains yesterday in the second half of the trading session on Wednesday, Manos Hatzidakis, investment and strategy director at Pegasus Securities, told Capital.gr.
“It would be too early to see a rally, as everything depends on the passing of the mid-term program”, he noted. The market observes closely the developments and the existing sentiment is expected to remain until substantial progress is made.
“The key precondition is the passing of the program, in order to expect something from the summits of the European authorities, such as the Eurogroup”, he added.
Across the board, the General Index is at 1,255.77 units, with losses of 1.23, moving into negative territory since the opening. The turnover stands at just €19m, while a total amount of 76 shares decline, 37 rise and 34 remain unchanged.
Banks also move downwards, recording losses of 1.59% at 946.12 units. ATEbank and National Bank fall by 2.44 and 2.07% respectively.
