The Athens Stock Exchange couldn’t avoid losses on Monday, after the sharp rise on Friday and cumulative profits of 5.4% for the previous week, as the market focuses on political developments regarding the medium-term fiscal program.
FTSE20 posted mixed signs, with ATEbank’s profits standing out, while MIG, OTE and National Bank received the heaviest pressures, with the first two of them ending at session’s low.
Market analysts state 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 there is growing concern about the impact of new measures on the already negative sentiment of real economy and the overall domestic consumption, hence the financial figures of the Greek listed companies.
“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”, said Pegasus Securities in its morning report.
Similarly, Marfin Analysis expected volatility to remain as despite the securing of the € 12bn loan tranche political risks are elevating, increasing uncertainly.
Across the board, the General Index ended at 1,323.27 units, recording losses of 0.78%, after it had been fluctuating into a margin of 23 units or 1.74%. Approximately 21.88 million units worth €62.98 million were traded on Monday, while a total amount of 76 shares ended in positive territory, 68 declined and 136 remained unchanged.
Banks fell by 1.40%, at 1022.19 units. Only ATEbank ended in positive territory, while Marfin Popular Bank remained unchanged. On the other hand, National Bank and Eurobank declined by 2.29% and 2.05%.
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