Athens Stocks recorded losses of 1.03% for February, as the General Index declined on Monday for the third consecutive session, losing gains of 7.65% in the last ten days.
Banks’ monthly index also reversed on negative territory, despite cumulative profits of 12.45% until February 18.
The conclusive rejection of National Bank’s proposal for a friendly merger with Alpha Bank disappointed short-term players in the Greek market, as they expected to make a good profit in the short run, if the deal was completed, said Guardian Trust Securities.
Historically, bank mergers are difficult to happen in Greece. Although there are constant rumours for mergers, only acquisitions have taken place in the last 15 years, comments Guardian and advises investors to remain cautious as speculation will continue.
"Bank of Cyprus 4Q numbers and plans for EUR1.3bn capital raising disappointed the market," Panagiotis Kladis, senior bank analyst at National Securities told Dow Jones Newswires.
"I expect increasing volatility as we head closer to the much debated EU summit in March where hopes are pinned on a comprehensive resolution to the debt crisis", he added.
Any fresh M&A domestic banking sector developments could give the bourse a boost, other analysts said, while Moody’s said earlier on Monday that NBG’s proposed merger with Alpha would be credit positive which helped sentiment, pulling the market off early heavier losses.
Across the board, the General Index ended at 1576.86 units, down 0.40%, limiting its intraday losses of 2.5%. Approximately 41.2mn units worth EUR137.5mn were traded on Monday, while a total amount of 116 shares declined, 129 remained unchanged and only 39 rose.
Banks ended at 1370.87 units, down 2.55% with intraday losses of 4.29%. Only Piraeus (+1.23%) and Geniki Bank (+1.01%) moved in positive territory, while Attica Bank remained unchanged. Bank of Cyprus fell by 8,50% following its announcement of financial results for 2010, while Hellenic Postbank and Marfin Popular Bank declined by 4.23% and 3.81% respectively.
Across FTSE20, OTE and OPAP stood out, with gains of 3.33% and 2.58% respectively, while Coca Cola 3E and Viohalco rose by 1.96% and 0.98% respectively. MIG and Ellaktor declined by 4.35% and 3.64% respectively.
Banks’ monthly index also reversed on negative territory, despite cumulative profits of 12.45% until February 18.
The conclusive rejection of National Bank’s proposal for a friendly merger with Alpha Bank disappointed short-term players in the Greek market, as they expected to make a good profit in the short run, if the deal was completed, said Guardian Trust Securities.
Historically, bank mergers are difficult to happen in Greece. Although there are constant rumours for mergers, only acquisitions have taken place in the last 15 years, comments Guardian and advises investors to remain cautious as speculation will continue.
"Bank of Cyprus 4Q numbers and plans for EUR1.3bn capital raising disappointed the market," Panagiotis Kladis, senior bank analyst at National Securities told Dow Jones Newswires.
"I expect increasing volatility as we head closer to the much debated EU summit in March where hopes are pinned on a comprehensive resolution to the debt crisis", he added.
Any fresh M&A domestic banking sector developments could give the bourse a boost, other analysts said, while Moody’s said earlier on Monday that NBG’s proposed merger with Alpha would be credit positive which helped sentiment, pulling the market off early heavier losses.
Across the board, the General Index ended at 1576.86 units, down 0.40%, limiting its intraday losses of 2.5%. Approximately 41.2mn units worth EUR137.5mn were traded on Monday, while a total amount of 116 shares declined, 129 remained unchanged and only 39 rose.
Banks ended at 1370.87 units, down 2.55% with intraday losses of 4.29%. Only Piraeus (+1.23%) and Geniki Bank (+1.01%) moved in positive territory, while Attica Bank remained unchanged. Bank of Cyprus fell by 8,50% following its announcement of financial results for 2010, while Hellenic Postbank and Marfin Popular Bank declined by 4.23% and 3.81% respectively.
Across FTSE20, OTE and OPAP stood out, with gains of 3.33% and 2.58% respectively, while Coca Cola 3E and Viohalco rose by 1.96% and 0.98% respectively. MIG and Ellaktor declined by 4.35% and 3.64% respectively.
