The Athens Stock Exchange continues to consolidate the profits of previous week, as the political discussions on the medium-term program and the “thorns” in the new support package still weigh on the market.
Banks had been posting early losses of 3%, while most of FTSE20 shares move into negative territory, with Hellenic Postbank, Alpha Bank, Eurobank, OTE and National Bank suffering the heaviest pressures. Only ATEbank, Coca Cola 3E and Public Power Corp are on positive grounds, although profits do not exceed 1%.
“Counterbalancing forces are expected to have an offsetting effect on today΄s session, with positive news coming EU officials statement that they are finally considering the issue of a eurozone bond being partially compensated with uncertainty concerning the final pass of the medium-term plan bill through the Greek Parliament”, said Pegasus Securities in a report.
“On the corporate front, we consider that the market will perceive EFG΄s announcement as positive, as it demonstrates the willingness of institutional investors to increase their position at current levels through a private placement (reported to stand at €300m)” it added.
Kyprou Securities comments that ASE investors maintain a “wait and see” stance on their investments expecting an approval of the Mid-term plan from the Greek parliament. It reiterates its cautious view on the ASE till that approval.
Across the board, the General Index is at 1,303.29 units, down 1.51%, moving into a margin of 18 units. The turnover stands at €24m, while a total amount of 78 shares decline, 25 rise and 41 remain unchanged.
Banks are at 997.80 units, down 2.39%. ATEbank gains 0.76%, while Hellenic Postbank falls by 3.58%.
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