On the background of signs of a smooth release of the fifth instalment of the aid loan to Greece and the concern about both the approval of new fiscal measures and their impact on the Greek economy, the Athens Stock Exchange moves cautiously on Monday with moderate volume.
Market analysts comment that the domestic market is undergoing a period of increased volatility, because of the extent and the intensity of the new fiscal interventions, along with the political uncertainty.
At the same time, they are concerned about the impact of new measures on the sentiment in the real economy, the overall level of domestic consumption and the economic activity.
“Significant short-term profit-taking opportunities, however, as well as uncertainty related to the bill being finally passed (voting to take place on June the 15th) are expected to continue to weigh, with the market possibly retreating later during the day” said Pegasus Securities in its morning report.
Optimism deriving from the conclusion of talks concerning Greece΄s medium-term plan is expected to maintain a strong bid-side interest, although the long time leading up to the passage of the medium-term package may put some portfolios on hold, Pegasus added.
Across the board, the General Index is at 1,338.68 units, up 0.38%, fluctuating between profits and losses, into a margin of 18 units. The turnover stands at €29.5m, while a total amount of 55 shares rise, 45 decline and 46 remain unchanged.
Banks post marginal losses of 0.18% at 1,034.83 units. ATEbank soars, with profits of 9.17%, while Marfin Popular Bank gains 1.47%. On the other hand Eurobank and Bank of Cyprus decline by 0.88% and 0.87% respectively.
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