Following losses of 4.64% in the last two meetings, the Athens market reacts positively on Friday, as the attention is focused on the new Minister of Finance and negotiations on the new support program for Greece.
Worries regarding country’s debt crisis seem to be keeping investors on their toes, said Marfin Analysis in its morning report. “Only a bailout plan could provide some relief. Until that time and as long as the political risk is hanging over the market would be testing new lows. Reactions should be viewed as technical ones rather than substantial and these should be expected only after consecutive negative sessions.”
The General Index has now the reasoning to realise a strong boost, after yesterday’s development removed the possibility of early elections, which could refuel uncertainty and pressure in the market, commented Pegasus Securities.
“Interested parties should not disregard that at current levels a notable volume of large-cap equities have, effectively, changed hands, meaning that the possibility of intraday short-term profit-taking moves should be well taken under consideration, especially if the GI opens towards significantly higher levels”, Pegasus added.
Across the board, the General Index moves into positive territory, currently at 1,231.82 units, gaining 1.99%, with early profits of 2.32%. The turnover stands at €30m, while a total amount of 79 shares rise, 28 decline and 23 remain unchanged.
Greek banks soar, with profits of 3.58%, at 923.04 units. Eurobank jumps by 5.17%, while National Bank and Piraeus Bank gain 4.57% and 4.12% respectively.
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