Aligned with the upward trends of European stock markets, the General Index of Athens Stock Exchange rises on Monday, with gains of up to 2.4%, helped by the sharp increase of OTE and the banking sector.
The developments in Libya remain in focus, while the announcements of financial results by the majority of the Greek listed companies during the week will be on the spotlight.
European Summit at the end of the week will also draw investors’ attention, while the fine print of enhancing of European Financial Stability Facility is discussed today in Ecofin meeting.
“Events in Libya are expected to retain volatility to high levels, as investors are concerned about the repercussions of military action on the price of crude oil”, says Pegasus Securities in its morning report.
Pegasus continues to remain positive as to the market΄s midterm trend, “considering every significant correction as an opportunity to increase our position, especially as we move towards the EU Summit of March the 25th.”
It expects a nervous session today and notes that that besides banking equities that may participate in mergers, we focus on companies that stand on the epicenter of privatizations (OPAP, Hellenic Postbank, PPC) and/or have resilient fundamentals (Mytilineos, Jumbo, Fourlis, Frigoglass).”
Across the board, the General Index is at 1621.13, up 1.72%, moving in a positive territory from the start of the trading session. Turnover stands already at €172mn, while a total amount of 84 shares rise, 36 decline and 52 remain unchanged.
Banks are at 1400.35, up 1.07%. Geniki Bank and National Bank rise by 2.44% and 1.61% respectively, while Piraeus and ATEbank post gains of 1.27%. Eurobank, Hellenic Postbank and Marfin Popular Bank record profits of more than 1%.
The developments in Libya remain in focus, while the announcements of financial results by the majority of the Greek listed companies during the week will be on the spotlight.
European Summit at the end of the week will also draw investors’ attention, while the fine print of enhancing of European Financial Stability Facility is discussed today in Ecofin meeting.
“Events in Libya are expected to retain volatility to high levels, as investors are concerned about the repercussions of military action on the price of crude oil”, says Pegasus Securities in its morning report.
Pegasus continues to remain positive as to the market΄s midterm trend, “considering every significant correction as an opportunity to increase our position, especially as we move towards the EU Summit of March the 25th.”
It expects a nervous session today and notes that that besides banking equities that may participate in mergers, we focus on companies that stand on the epicenter of privatizations (OPAP, Hellenic Postbank, PPC) and/or have resilient fundamentals (Mytilineos, Jumbo, Fourlis, Frigoglass).”
Across the board, the General Index is at 1621.13, up 1.72%, moving in a positive territory from the start of the trading session. Turnover stands already at €172mn, while a total amount of 84 shares rise, 36 decline and 52 remain unchanged.
Banks are at 1400.35, up 1.07%. Geniki Bank and National Bank rise by 2.44% and 1.61% respectively, while Piraeus and ATEbank post gains of 1.27%. Eurobank, Hellenic Postbank and Marfin Popular Bank record profits of more than 1%.
