Greek Stocks maintain the upward trend on Friday, unburden from concerns about the vote of medium-term program and implementation act, following three consecutive profitable sessions. During the first meeting in July, Greek banks gain more than 4%, while ATEBank, National Bank and Alpha Bank top FTSE20.
Market analysts comment that the recent uncertainty regarding the medium-term program is now whisked away after its adoption, strengthening risk-taking. However, the conditions do not allow complacency, as the Greek government must convince lenders and EU member states of its ability to implement the new obligations.
They also note that the catalyst for the coming week will be the outcome of the extraordinary Eurogroup on Sunday. If expectations for a final solution are verified, the potential reaction to the Greek market will be particularly elevated.
Despite the market reacting calmly on significant positive developments, Pegasus Securities regards that the adoption of austerity measures and the release of the next aid tranche clearly ameliorate the country΄s perspective, assisting the market΄s midterm trend to change to positive.
On the board, the General Index rises by 1.88%, at 1,303.11 units. The turnover stands at €42.5m, while a total amount of 76 shares rise, 33 decline and 36 remain unchanged.
Banks soar, posting profits of 4.13%, at 1,018.34 units, with ATEBank recording double-digit gains.
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