Net turnover (excluding block trades) stood below €90mn for
a second consecutive session, as the General Index ended with marginal losses on Tuesday after a fluctuation within a narrow margin of 18 units.
In a weak session, investors traded with small and selective moves, ahead of the announcement of results of Greek listed companies and the European Union Summit later this week.
Investors maintain a wait-and-see stance, as there are doubts whether the outcome of the EU Summit will be positive for Greece, according to analysts.
They note that the resolutions of the Ecofin meeting yesterday and the extraordinary EU meeting last week were positive, however the nervousness will remain until European leaders formalize their decisions.
“Day-to-day volatility should persist”, said Kyprou Securities in its morning report. European developments, unrest in Libya and Japanese disaster should affect international markets including the Athens Exchange.
“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”, Kyprou added, while Pegasus Securities noted that an increase of the trading volume would be significant, as turnovers below €100mn cannot support a strong upward course.
Across the board, the General Index ended at 1611.21 units, with losses of 0.18%. Approximately 25.78 million units worth €90.98 million were traded on Tuesday, while a total amount of 87 shares declined, 66 rose and 130 remained unchanged.
Banks fell by 1.84%, at 1371.01 units. Bank of Cyprus posted profits of 0.75%, while Eurobank, Alpha Bank and Proton Bank fell by 3.70%, 3.56% and 3.49% respectively. Marfin Popular Bank, Hellenic Postbank and National Bank declined by 2.11%, 1.88% and 1.74% respectively.
source: CAPITAL
