The Athens Stock Exchange opened nervously with thin turnover on Monday, focusing on the new fiscal measures and the agonizing developments about their vote in the Greek House.
Pegasus Securities expects the market to be conquered by nervousness, as the epicentre of investors΄ interest turns on the vote of the Greek Government΄s submitted medium-term plan and the asset-sales program.
Pegasus considers both tests pivotal to the country΄s ability to meet its obligations anticipating interested partied to be very cautious “until hearsay related to aforementioned developments becomes more transparent and allows for some risk undertaking”
“Up until then, the market is expected to demonstrate negative volatility and trade at a quite narrow spread, despite supportive weekend arguments from EU member officials” Pegasus added in its morning report.
Technically, the General Index’s inability to break the resistance of the 30-day moving average forced many investors to profits consolidation, which resulted in lower prices, according to Pegasus Securities.
Across the board, the General Index is at 1,231.2 units, with marginal losses of 0.12%. The turnover stands at €15m, while a total amount of 24 shares rise, 49 decline and 23 remain unchanged.
Banks also post marginal losses of 0.09% at 920.57 units. Bank of Cyprus, National Bank and Alpha Bank rise by 0.50%, 0.55% and 0.31% respectively, while Piraeus Bank and Hellenic Postbank decline by 1.94% and 1.89% respectively.
