After seven consecutive profitable sessions, the Athens market attempts to reach -unsuccessfully so far- the level of 1700 points, focusing on the developments in European Summit in Brussels.
Banks had been posting gains of 2.3% earlier, helped by National Bank’s rebound (+3.5%), while across FTSE20 Ellaktor’s profits of 5.8% single out.
Analysts expect a “quit” session in terms of trading activity, as the market awaits for statements by European leaders that confirm the process to a comprehensive solution to the debt crisis.
They also comment that a corrective move is likely, although the improved investing sentiment and the narrowing of Greek bond spreads provide a counterbalancing force.
“News content related to the strategic partnership of Eurobank with Austrian Raiffeisen concerning the former΄s Polish operations, as well as expectations related to the resolutions of the EU Summit, which will be concluded tomorrow, are anticipated to jointly ease-off pressures asserted on the equities of the banking sector, in particular, despite the remarkable recent gains”, says Pegasus Securities in its morning report.
It also expects volatility to remain the market΄s main characteristic, with the General Index possibly repeating yesterday΄s move, “meaning that it is very likely for the market to close on the positive end of its open.”
Across the board, the General Index is at 1686.16 units, up 0.66% in a turnover of EUR48mn. A total amount of 62 shares rise, 37 decline and 42 remain unchanged.
Banks limited their early big gains, currently at 1518.74 units, up 0.3%.
Banks had been posting gains of 2.3% earlier, helped by National Bank’s rebound (+3.5%), while across FTSE20 Ellaktor’s profits of 5.8% single out.
Analysts expect a “quit” session in terms of trading activity, as the market awaits for statements by European leaders that confirm the process to a comprehensive solution to the debt crisis.
They also comment that a corrective move is likely, although the improved investing sentiment and the narrowing of Greek bond spreads provide a counterbalancing force.
“News content related to the strategic partnership of Eurobank with Austrian Raiffeisen concerning the former΄s Polish operations, as well as expectations related to the resolutions of the EU Summit, which will be concluded tomorrow, are anticipated to jointly ease-off pressures asserted on the equities of the banking sector, in particular, despite the remarkable recent gains”, says Pegasus Securities in its morning report.
It also expects volatility to remain the market΄s main characteristic, with the General Index possibly repeating yesterday΄s move, “meaning that it is very likely for the market to close on the positive end of its open.”
Across the board, the General Index is at 1686.16 units, up 0.66% in a turnover of EUR48mn. A total amount of 62 shares rise, 37 decline and 42 remain unchanged.
Banks limited their early big gains, currently at 1518.74 units, up 0.3%.
