Athens market posts mixed sings on Tuesday, as the General Index fluctuates between profits and losses within a narrow margin.
Except from the announcement of financial results of Greek listed companies, the market focuses on the agreement of European Finance Ministers yesterday at Ecofin on the European Stability Mechanism. However, the nervousness is maintained at high levels, ahead of European Summit, which will formalize the decision.
The market refusal to move downwards was supported by the upward trends of international stock exchanges, which show signs of recovery to levels prior to Japanese disaster, said Pegasus Securities.
It notes that an increase of the trading volume would be significant, as turnovers below €100mn cannot support a strong upward course.
“Day-to-day volatility should persist”, says Kyprou Securities. “Developments on EU level about the EFSF framework of operation, Japan’s nuclear uncertainties and developments in Libya should affect international equities markets including the ASE.
Kyprou notes that the publishing of 2010FY results of major local banks and potential surprises could possibly disturb a strong correlation of the ASE versus major EU equity markets.
Across the board, the General Index is at 1600.15, down 0.31% in a thin turnover of €33mn. A total amount of 49 shares rise, 68 decline and 38 remain unchanged.
Banks are at 1383.68 units, down 0.93%. Only Bank of Cyprus moves upwards, posting small profits of 0.37%, while Eurobank and Alpha Bank fall by 2.33% and 2.25% respectively. Attica Bank and ATEbank decline by 1.87% and 1.25%, while Marfin Popular Bank and Hellenic Postbank lose 1.05% and 0.81% respectively.
Except from the announcement of financial results of Greek listed companies, the market focuses on the agreement of European Finance Ministers yesterday at Ecofin on the European Stability Mechanism. However, the nervousness is maintained at high levels, ahead of European Summit, which will formalize the decision.
The market refusal to move downwards was supported by the upward trends of international stock exchanges, which show signs of recovery to levels prior to Japanese disaster, said Pegasus Securities.
It notes that an increase of the trading volume would be significant, as turnovers below €100mn cannot support a strong upward course.
“Day-to-day volatility should persist”, says Kyprou Securities. “Developments on EU level about the EFSF framework of operation, Japan’s nuclear uncertainties and developments in Libya should affect international equities markets including the ASE.
Kyprou notes that the publishing of 2010FY results of major local banks and potential surprises could possibly disturb a strong correlation of the ASE versus major EU equity markets.
Across the board, the General Index is at 1600.15, down 0.31% in a thin turnover of €33mn. A total amount of 49 shares rise, 68 decline and 38 remain unchanged.
Banks are at 1383.68 units, down 0.93%. Only Bank of Cyprus moves upwards, posting small profits of 0.37%, while Eurobank and Alpha Bank fall by 2.33% and 2.25% respectively. Attica Bank and ATEbank decline by 1.87% and 1.25%, while Marfin Popular Bank and Hellenic Postbank lose 1.05% and 0.81% respectively.
source: CAPITAL
