Athens General Index ended Wednesday close to its intraday high, posting gains for the second consecutive session.
Analysts expect weak volumes and “shallow” fluctuations to remain in the last two sessions of the Greek market (noted that Friday’s session ends at 15:20 local time, due to New Year’s Eve).
"Smaller local market participants are determining the bourse΄s direction because the bulk of foreign investors are either still on holidays or waiting on the sidelines", according to HSBC Securities.
“I suspect Wednesday΄s gains are a combination of a mild technical bounce helped by gains on other peer bourses, as well as some fund manager window dressing on banks", says Spiros Tsangalakis, analyst at HSBC Pantelakis Securities, according to Dow Jones Newswires.
Across the board, the General Index recorded gains of 1.21%, ending at 1428.15 points, remaining into positive territory throughout the session. On Wednesday, approximately 11.67 million shares worth only 37.56 million were traded in Athens Stocks, while a total amount of 102 stocks closed in positive territory, 51 declined and 135 remained unchanged.
Banks moved up by 1.22% at 1272.55 units. ATEbank gained 7.25%, while Hellenic Postbank and Eurobank rose by 3.1% and 2.91% respectively. Alpha Bank and National Bank posted gains of 2,05% and 0.97% respectively.
