The announcements by the Prime Minister George Papandreou did not provide any positive catalyst for an upward reaction in the Athens market, which is forced into further losses, despite the encouraging beginning of the session.
Banks also move in a declining mood, despite early profits of 2.17% during the first hour of the meeting.
Turnover remains at low levels, while FTSE20 shares post mixed signs.
“The market΄s short-term momentum remains purely negative, as witnessed through the pressure asserted all across the Athens board, with banking equities being in the epicenter of ask-side interest, following the return of the spread of GGBs on historically high levels”, said Pegasus Securities in its morning report.
Technically, Pegasus expects the General Index “to trade in the 1,460 - 1,500 units region, which consist today΄s 2nd support and pivot point respectively, considering that every ascending reaction currently seems as an opportunity to increase portfolio liquidity, even at current extremely underpriced levels”.
Kyprou Securities expects mid-term consolidation to continue on the ASE. It maintains it cautious stance not increasing its positions on the local stock exchange.
Across the board, the General Index is at 1,475.57 units, down 0.82%. Turnover stands at €44.6m, while a total amount of 35 shares rise, 93 decline and 34 remain unchanged.
Banks retreat by 1.57%, at 1,156.75. Alpha Bank and Hellenic Postbank fall by 2.81% and 2.47% respectively, while Eurobank declines by 2.27%. Piraeus Bank and National Bank post losses of 1.56% and 1.37% respectively.
source: CAPITAL
