Wednesday, February 9, 2011

Athens Market moves upwards

Athens Stocks move in the territory of 1660-1680 units on Wednesday, aligned with the weak trading sessions in European markets.

Banks post mixed signs with National Bank’s attempt to reach EUR8 standing out. Alpha Bank, Eurobank and Hellenic Postbank post gains of almost 2%, while PPC tops FTSE20 profits, gaining 2.28% at EUR12.13.

Coca-Cola 3E, having announced its 2010 results before the start of the session, is under heavy pressure, falling by 2.31%.

Pegasus Securities expects the market “to keep its ascending momentum today, gradually aiming to surpass the previous highs (1,695 units), where we would consider to partially increase our liquidity”.

“Positive domestic news coming from the front of yesterday΄s T-bill auction assisted the Athens market in remaining in positive territories throughout the session, with the equities of the banking sector being in the spotlight, it adds.

Marfin Analysis and Kyrpou Securities expect the market to accumulate at current price levels, according to their morning report.

Across the board, the General Index is at 1,678.81, up 0.54% in a turnover of EUR48mn. A total amount of 70 shares rise, 46 decline and 35 remain unchanged.

Banks are at 1504.69, enhanced by 1.5%. National Bank climbs by 2.47%, while Alpha Bank, Eurobank rise by 1.93%. Marfin Popular Bank gains 1.83%, while Bank of Cyprus declined by 0.29% and Piraeus Bank remains unchanged.


SOURCE: CAPITAL