The General Index of ASE moved upwards for a third consecutive session –the biggest run since mid-March-, moving into positive territory throughout the trading.
Greek banks recorded profits of 1.3%, although they failed to maintain intraday gains of 3.07%. The performance of ATEBank, OTE and OPAP stood out on FTSE20.
Thursday’s rise occurred in moderate volume and turnover, in the wake of yesterday’s vote for the medium-term fiscal program and today’s vote for the Implementation Act.
Market analysts comment that both votes are positive developments for the market, ending a long period of intense uncertainty, but the sentiment remains fragile.
The attention is now turning to the extraordinary meeting of the Eurogroup, and whether European officials will proceed with concrete decisions on the new support program to Greece. An important part of the plan will be the rollover of Greek debt, with the developments so far appearing positive after the agreement of French and German banks on voluntary participation. However, crucial details are to be clarified.
Volatility is most likely to continue, but the downside risk is gradually reducing and the trend of the market will be clearer next week, when the Eurogroup outcome is known.
On the board, the General Index ended at 1,279.06 units, with profits of 1.12%. Approximately 20.56 million units worth €70.91m, while 69 shares rose, 58 declined and 153 remained unchanged.
Banks ended at 977.95 units, with only Proton Bank and Hellenic Postbank on negative territory.
On FTSE20, ATEBank jumped by 9.68%, while OTE and OPAP rose by 4.05% and 3.97% at €6.43 and €10.75 respectively. Ellaktor gained more than 3% at €2.47, while PPC and National Bank recorded profits of 2.81% and 2.49% respectively.
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