Friday, July 8, 2011

ASE In Declining Mood, Turnover Remains Low





















Greek banks stand new pressures on Friday, after cumulative losses of 8% in the previous three sessions.


Amid consultations on the rollover plan of Greek debt, the General Index moves in a declining mood, following four consecutive downward sessions.


Although the climate abroad could be described as optimistic, the lack of any domestic catalyst and the low trading volume will continue to refuel nervousness and volatility in the majority of the shares, Pegasus Securities said in a report.


Focus today is going to be on the expected formal approval for the release of the 5th loan tranche to Greece by the IMF and the U.S. non-farm payrolls report, according to Eurobank Securities. Following the encouraging U.S. private sector jobs report released yesterday, improved international market sentiment may help the ASE move in positive territory today, it added.


On the board, the General Index is at 1,250.26 units with losses of 1.16%. The turnover stands at €23m, while a total amount of 66 shares decline, 26 rise and 33 remain unchanged.


Banks post losses of 2.32% at 925.57 units. Only Bank of Cyprus is on positive grounds, with minor profits of 0.52%. On the other hand, ATEBank falls by 8%, while Alpha Bank, Piraeus Bank, National Bank and Eurobank decline by 3.24%, 2.91%, 2.89% and 2.45% respectively.


 
 
 
 
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