Athens market moved upwards on Monday, following its losses on Friday, ahead of the announcement of financial results by the majority of the Greek listed companies this week.
The performance of OTE, Ellaktor and Motor Oil stood out across the FTSE20, while the focus remains on the developments in Libya.
The turnover, excluding block trades and the “package” for 40% stake of Crown Hellas, remained thin, at €87.21mn, while the total trading was 30.07mn units.
Analysts comment that the market sentiment is fragile due to uncertainty caused by the geopolitical developments and the investors’ avoid-risk stance that keeps volume low.
Nervousness is expected to remain at high levels, ahead of the European Summit at the end of the week that would formalize the decisions taken on March 11.
Societe Generale said that given current global crises, markets could react very negatively if nothing is achieved at the next European summit on 24 & 25 March.
However, the 11 March meeting raised hopes that Europe may provide appropriate answers to the euro debt problem via the Pact for Euro, it added, while it goes long ASE “as the Greek index is close to bottom”.
The General Index moved into positive territory throughout the trading session, posting intraday profits of 2.36%. It ended at 1614.13 points, up 1.28%.
Banks also moved on green throughout the session with intraday gains of 2.44% but ended at 1419.29, up 0.81%. Marfin Popular Bank and Eurobank topped banking index with profits of 2.15% and 1.98% respectively. National Bank ended with gains of 0.88% at day’s low (€6.9).
Proton Bank, Bank of Cyprus and Piraeus Bank declined by 1.15%, 0.74% and 0.64% respectively.
The performance of OTE, Ellaktor and Motor Oil stood out across the FTSE20, while the focus remains on the developments in Libya.
The turnover, excluding block trades and the “package” for 40% stake of Crown Hellas, remained thin, at €87.21mn, while the total trading was 30.07mn units.
Analysts comment that the market sentiment is fragile due to uncertainty caused by the geopolitical developments and the investors’ avoid-risk stance that keeps volume low.
Nervousness is expected to remain at high levels, ahead of the European Summit at the end of the week that would formalize the decisions taken on March 11.
Societe Generale said that given current global crises, markets could react very negatively if nothing is achieved at the next European summit on 24 & 25 March.
However, the 11 March meeting raised hopes that Europe may provide appropriate answers to the euro debt problem via the Pact for Euro, it added, while it goes long ASE “as the Greek index is close to bottom”.
The General Index moved into positive territory throughout the trading session, posting intraday profits of 2.36%. It ended at 1614.13 points, up 1.28%.
Banks also moved on green throughout the session with intraday gains of 2.44% but ended at 1419.29, up 0.81%. Marfin Popular Bank and Eurobank topped banking index with profits of 2.15% and 1.98% respectively. National Bank ended with gains of 0.88% at day’s low (€6.9).
Proton Bank, Bank of Cyprus and Piraeus Bank declined by 1.15%, 0.74% and 0.64% respectively.
