Banks regained a positive sign for month, reacting sharply upwards on Tuesday, ahead of the critical votes for the Medium-Term Fiscal Strategy and the Implementation Act in the Greek House.
On FTSE20 board, Ellaktor and Hellenic Postbank recorded double-digit profits, while GEK TERNA topped the General Index with gains of 10.80% at €1.95.
“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, while Piraeus Securities commented that investors bet on a possible positive outcome in the approval of the fiscal reforms of the government.
Analysts comment that the banks’ profits of 5.78% in the last two sessions are attributed to expectations for the voting for the medium-term program. However, the market has not yet overcome the state of uncertainty, analyst note, adding that critical decisions for Greece at European level would follow, even if the medium-term program were adopted.
On the board, the General Index ended with profits of 2.66% at 1,258.84 units, moving into positive territory throughout the trading session.
Approximately 25.5 million units worth €84.1m were traded on Tuesday, while a total amount of 100 shares rose, 30 declined and 150 remained unchanged.
Ellaktor and Hellenic Postbank topped FTSE20, with profits of 10.65% and 10.00% at €2.39 and €2.86 respectively, while MIG rose by 6.67% at €0.64. Eurobank and National Bank gained 5.84% and 5.38% respectively, Mytilineos and Marfin Popular Bank jumped by 5.19% and 5.00% respectively.
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