Athens Exchange recorded losses of 7.7% for week, as the General Index maintained the downward trend on Friday in a thin turnover of less than EUR 100mn.
Banks’ cumulative losses for week amounted to 9.6%. The Banking sector was on the spotlight during the week as the National Bank’s proposal for a merger with Alpha Bank last Friday raised investors’ expectations, but finally didn’t come up.
Analysts expect the following sessions to be characterized by reduced trading activity, while the international market sentiment is negative due to the unrest in Libya and the Arab world.
As banking mergers and acquisitions scenarios seem to fade, the market may turn its attention to the financial results that the listed companies announce, while (non) developments regarding the strengthening of European stability facility and the lengthening of Greek loan repayment period will stay on the spotlight till the next European Summit in late March.
Across the board, the General Index ended at 1583.20 units, down 1.05%, moving mostly in negative territory, while its intraday losses reached 1.74%. The total turnover was EUR 99.54mn, while a total amount of 56 shares rose, 95 declined and 147 remained unchanged.
Banks moved in a margin of 49 units or 3.46%, ending at 1406.81 with losses of 1.21%.Only Bank of Cyprus and Hellenic Postbank ended in green, with profits of 0.33% and 0.28% respectively, while Alpha Bank, Eurobankk and National Bank fell by 2.4%, 1.89% and 1.71% respectively. ATEBank and Piraeus Bank remained unchanged.
Banks’ cumulative losses for week amounted to 9.6%. The Banking sector was on the spotlight during the week as the National Bank’s proposal for a merger with Alpha Bank last Friday raised investors’ expectations, but finally didn’t come up.
Analysts expect the following sessions to be characterized by reduced trading activity, while the international market sentiment is negative due to the unrest in Libya and the Arab world.
As banking mergers and acquisitions scenarios seem to fade, the market may turn its attention to the financial results that the listed companies announce, while (non) developments regarding the strengthening of European stability facility and the lengthening of Greek loan repayment period will stay on the spotlight till the next European Summit in late March.
Across the board, the General Index ended at 1583.20 units, down 1.05%, moving mostly in negative territory, while its intraday losses reached 1.74%. The total turnover was EUR 99.54mn, while a total amount of 56 shares rose, 95 declined and 147 remained unchanged.
Banks moved in a margin of 49 units or 3.46%, ending at 1406.81 with losses of 1.21%.Only Bank of Cyprus and Hellenic Postbank ended in green, with profits of 0.33% and 0.28% respectively, while Alpha Bank, Eurobankk and National Bank fell by 2.4%, 1.89% and 1.71% respectively. ATEBank and Piraeus Bank remained unchanged.
