The General Index moves sharply downwards on Tuesday, following yesterday big increase, as the markets are heavily affected by the consequences of the crisis in Japan.
Analysts comment that the Greek market couldn’t resist to the temptation of consolidation, while developments in Japan intensify nervousness. However, they note that the Athens Exchange should recover in the near future, as it has already showed a pattern of differentiation from the foreign indices, in the wake of European Summit resolutions.
Analysts also note that signs of improvement were recorded in the bond market with the narrowing of Greek government bond spread.
Volatility is expected to remain high, ahead of the Triple Witching on Friday.
“It seems hard to imagine that worrying developments in Japan will not significantly affect the Athens market΄s very positive momentum, halting for the time being the GI΄s strong ascending dynamic”, says Pegasus Securities in its morning report.
It expects pessimistic investor sentiment to bring the domestic market in lower levels today, regarding, “however, that in the case of a negative intraday hyperbole, we would consider to partially increase our position”, it adds.
Across the board, the Index is at 1624.49 points, down 2.28% with intraday losses of up to 3.14%. The turnover stands at EUR 79mn, while a total amount of 30 shares rise, 134 decline and 30 remain unchanged.
Banks fall by 3.33%, at 1393.76 units. Bank of Cyprus, ATEBank and Alpha Bank post losses of more than 3.5%, while Eurobank, Hellenic Postbank and Marfin Popular Bank decline by 3.11%, 3.41% and 3.09%.
Analysts comment that the Greek market couldn’t resist to the temptation of consolidation, while developments in Japan intensify nervousness. However, they note that the Athens Exchange should recover in the near future, as it has already showed a pattern of differentiation from the foreign indices, in the wake of European Summit resolutions.
Analysts also note that signs of improvement were recorded in the bond market with the narrowing of Greek government bond spread.
Volatility is expected to remain high, ahead of the Triple Witching on Friday.
“It seems hard to imagine that worrying developments in Japan will not significantly affect the Athens market΄s very positive momentum, halting for the time being the GI΄s strong ascending dynamic”, says Pegasus Securities in its morning report.
It expects pessimistic investor sentiment to bring the domestic market in lower levels today, regarding, “however, that in the case of a negative intraday hyperbole, we would consider to partially increase our position”, it adds.
Across the board, the Index is at 1624.49 points, down 2.28% with intraday losses of up to 3.14%. The turnover stands at EUR 79mn, while a total amount of 30 shares rise, 134 decline and 30 remain unchanged.
Banks fall by 3.33%, at 1393.76 units. Bank of Cyprus, ATEBank and Alpha Bank post losses of more than 3.5%, while Eurobank, Hellenic Postbank and Marfin Popular Bank decline by 3.11%, 3.41% and 3.09%.
