With net turnover of €56m, the General Index of Athens Exchange ended in positive territory on Tuesday, amid downgrade of Greece’s credit ratings by S&P, record-breaking widening of bond spreads and the auction of Greek treasury bills by the Public Debt Management Agency.
The trading activity was moderate, caused by the fluidity of the situation in both economic and political level, according to analysts, who do not expect the situation to change substantially in the coming days.
“As long as uncertainty persists, volatility should be reiterated”, said Marfin Analysis in its morning report, adding that “some interest could be seen on stocks that found themselves among government’s privatization plans”.
Pegasus Securities commented that S&P downgrade and Eurogroup extraordinary meeting weigh heavily on the market΄s course, increasing its volatility, “with pressure asserted on banking equities continuing to be significant”.
Across the board, the General Index ended at 1,266.93 units, with profits of 1.16%, after fluctuations of 37.55 units or 3%, recovering from an intraday low for year, at 1,238.19.
Approximately 25.02 million units worth €78.89m (€22.73m in pre-agreed trade), while a total amount of 84 shares declined, 52 rose and 144 remained unchanged.
Banks ended at 948.50 units, with profits of 1.18%. ATEbank jumped by 4.50%, whule National Bank gained 2.32%. Piraeus Bank, Alpha Bank and Eurobank rose by 0.99%, 0.95% and 0.66% respectively.
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