The General Index of the Athens Stock Exchange moves nervously with moderate turnover on positive grounds on Thursday, after the medium-term program was adopted yesterday and ahead of the implementation act vote later today.
Greek banks move upwards with profits of 2.4%, after yesterday’s strong fluctuations, while ATEBank top FTSE20 with gains of 8%, PPC and Alpha Bank rise by 2.9%.
Pegasus Securities expects the domestic market to continue moving in an environment of volatility as yesterday’s session confirmed the generic "sale the news" attitude.
The market΄s reaction to the positive medium-term plan parliamentary vote showed that its outcome was anticipated and already priced-in, said Pegasus.
It comments that though it was surprised by investors΄ immediate negative reaction, Pegasus continues to regard yesterday΄s result as clearly positive, as it paves the way for the pass of the implementation bill (today) and the disbursement of the 5th tranche of the Troika aid.
Pegasus expects the market to gradually stabilize and possibly move in positive territories today, anticipating that the General Index will probably close slightly higher.
“The voting of the plan seems to be removing short term risk, yet its implementation remains a challenge”, said Marfin Analysis in a report, adding that the profit taking mode witnessed by the end of yesterday’s session could be reiterated.
On the board, the General Index is at 1,281.43 units, up 1.31%. The turnover stands at €27.9m, while a total amount 63 shares rise, 33 decline and 35 remain unchanged.
Banks are at 989.04 units. Besides ATEBank, National Bank, Alpha Bank and Eurobank jump by 3.53%, 3.47% and 3.12% respectively, while Bank of Cyprus, Hellenic Postbank and Marfin Popular Bank gain 2.48%, 1.75% and 1.61% respectively.
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