moved in negative territory throughout the session, in the wake of the abortive -so far- talks between National Bank and Alpha Bank, while the uprising in Libya brought nervousness in the markets.
The shares of NBG and Alpha Bank, which yesterday managed to end with profits despite General Index’s decline, fell by 4.47% and 5.37% respectively on Tuesday.
Analysts expect nervousness to maintain in the domestic market, anticipating a conclusion regarding National Bank’s proposal for a friendly merger with Alpha Bank, which will keep determining the sentiment in the banking sector.
The latter also focuses on the course of Greek bond spreads, which keeps a widening trend recently, following German Central Bank’s statements on Monday against purchase of government bonds by EFSF in the secondary market.
Additionally, intensifying unrest in Libya brings nervousness in international markets, resulting a strong upward trend in oil prices.
Pegasus Securities expected negative sentiment to be fuelled by crude oil’s strong ascending momentum and foreign markets’ correction trend, driving altogether the Athens market towards lower levels.
Moreover, investors “demonstrate their disappointment over (non) developments in the domestic banking sector”, as the market’s expectations as to NBG’s friendly takeover bid over Alpha Bank quickly fades away, according to Pegasus’s morning report.
Across the board, the General Index ended at 1619.36 units, down 2.93% in a turnover of EUR134.1mn. A total amount of 145 shares declined, 105 remained unchanged and 34 rose.
Banks fell by 3.37%, at 1455.23 units. Alpha Bank and National Bank recorded losses of 2.58% and 2.11% respectively.
source: CAPITAL
