Athens Stocks move downwards on Tuesday, following yesterday’s heavy losses, while the market focuses on Alpha-National Bank developments and Bundesbank’s stance against repurchase of government bonds by EFSF. Additionally, unrest in Arab world, especially in Libya, weighs heavily on European markets.
The shares of National Bank and Alpha Bank, which yesterday managed to end in green, are forced to losses of up to 3.68% and 5.37% respectively on Tuesday.
Analysts note that market expectations regarding the proposed deal will determine the course of the two shares, affecting the sentiment for the banking sector.
The latter focuses on the course of Greek bond spreads, which record a widening trend on Tuesday, in the wake of German Central Bank’s yesterday on Monday against repurchase of government bonds by Eurozone’s stability facility.
The domestic market turns its attention on the meetings between the Greek and German leaders in Berlin later today. However, analysts don’t expect Germany to proceed with clear statements and consider the next EU Summit a milestone.
At the same time, intensifying unrest in Libya brings nervousness in international markets, resulting a strong upward trend in oil prices.
Pegasus Securities expects the market to move downwards, driven by crude oil’s strong ascending momentum and foreign markets’ correction trend.
Additionally, it anticipates investors “to continue to 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.
Across the board, the General Index is at 1622.32, down 2.75% in a turnover of EUR57.53mn. A total amount of only 12 shares rise, 101 decline and 28 remain unchanged.
Banks fall by 3.04%, at 1460.18 units. Proton, Bank of Cyprus and Geniki Bank decline by 6.82%, 4.19% and 4.13% respectively, while Marfin Popular, Hellenic Postbank and Attica Bank record losses of 3.54%, 3.51% and 3.45%. National Bank and Alpha Bank decline by 3.03% and 1.99% respectively.
The shares of National Bank and Alpha Bank, which yesterday managed to end in green, are forced to losses of up to 3.68% and 5.37% respectively on Tuesday.
Analysts note that market expectations regarding the proposed deal will determine the course of the two shares, affecting the sentiment for the banking sector.
The latter focuses on the course of Greek bond spreads, which record a widening trend on Tuesday, in the wake of German Central Bank’s yesterday on Monday against repurchase of government bonds by Eurozone’s stability facility.
The domestic market turns its attention on the meetings between the Greek and German leaders in Berlin later today. However, analysts don’t expect Germany to proceed with clear statements and consider the next EU Summit a milestone.
At the same time, intensifying unrest in Libya brings nervousness in international markets, resulting a strong upward trend in oil prices.
Pegasus Securities expects the market to move downwards, driven by crude oil’s strong ascending momentum and foreign markets’ correction trend.
Additionally, it anticipates investors “to continue to 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.
Across the board, the General Index is at 1622.32, down 2.75% in a turnover of EUR57.53mn. A total amount of only 12 shares rise, 101 decline and 28 remain unchanged.
Banks fall by 3.04%, at 1460.18 units. Proton, Bank of Cyprus and Geniki Bank decline by 6.82%, 4.19% and 4.13% respectively, while Marfin Popular, Hellenic Postbank and Attica Bank record losses of 3.54%, 3.51% and 3.45%. National Bank and Alpha Bank decline by 3.03% and 1.99% respectively.
