The ongoing political “thriller” continues to haunt the Athens market, resulting in further losses on Thursday.
Banking index posted early losses of 3%, while only ATEBank and PPC move upwards in FTSE20. Plaisio, Thessaloniki Port and Hellenic Exchanges are the only share of the General Index in green.
“Yesterday’s developments do not remove at all the political risk that was hanging over the previous weeks, on the contrary political risks are escalating”, said Marfin Analysis in its morning report, adding that “the allparty government postponement seems to be delaying, at least for the moment, any possibility of momentum’s reversal.”
“The market’s course is determined by unconstructive political developments that continue to fuel investors with uncertainty and effectively blanket positive background talk coming from the 5th Memorandum tranche disposal, as well as the approval of a 2nd bailout package,” according to Pegasus Securities.
It sees no reason for the market to proceed with a notable ascending reaction, even if trading at uncharted territories clearly consists a hyperbole and presents opportunities.
Across the board, the General Index is at 1,220.65 units, with losses of 1.80%. The turnover stands at €26m, while a total amount of 63 shares decline, 29 rise and 24 remain unchanged.
Banks fall by 2.43%, below 900 units. ATEBank gains 0.89%, while Marfin Popular Bank drops by 4.92%. Alpha Bank, Bank of Cyprus, Eurobank and Piraeus Bank decline by 3.07%, 2.48%, 2.33% and 2% respectively.
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