The closure of trading in the Athens Exchange provided no surprises, in an environment of nervous wait for the critical vote of austerity measures in the Greek parliament within the week.
Greek banks recorded profits of 1%, after they had fluctuated into a margin of 3.31%. Alpha Bank, National Bank and Eurobank stood out, topping FTSE20.
However, investing interest remained weak, reflected in the thin turnover, which did not exceed €57m.
Market analysts speak of the critical concurrence for the Greek economy and the stock market, commenting that the forthcoming votes and decisions are of historic importance and would determine the overall progress of Greece in the long run.
In this context, they consider market’s cautiousness, waiting stance and limited investing interest as well-expected and expect the nervous sessions to continue.
Pegasus Securities commented that the shadowy picture regarding the adoption of the medium-term plan combined with the negative climate in international financial markets are strong obstacles to any attempt for upward reaction.
Until hearsay related to aforementioned developments becomes more transparent and allows for some risk undertaking, the market is expected to demonstrate negative volatility and trade at a quite narrow spread, despite supportive weekend arguments from EU member officials, Pegasus noted.
On the board, the General Index ended at 1,226.22 units, with losses of 0.52%. Intraday losses reached 1.38%, despite the positive opening (+0.42%). Approximately 21.79 million units worth €56.7 million were traded on Monday, while a total amount of 95 shares declined, 45 rose and 140 remained unchanged.
Alpha Bank topped FTSE20, with profits of 2.18% at €3.28, while National Bank and Eurobank rose by 1.75% and 1.32% at €4.65 and €3.08 respectively.
On the other hand, OPAP and PPC fell by 2.80% and 2.35% at €10.06 and €9.15 respectively. Hellenic Postbank and MIG declined by 1.89% and 1.64% respectively.
