The consecutive articles of foreign press and the public statements of European officials about possible developments regarding Greek debt weigh heavily on the Athens Exchange, as trading activity and turnover remain at depreciating levels.
Greek banks are under severe pressure, with the index posting major losses of more than 3%, while almost all shares of FTSE20 are on negative grounds.
Pegasus Securities comments that the pending revision of state deficit for 2010 affects the credit rating of Greece, limiting the short-term investment profile of the market. It notes that the market provided yesterday investors with a 2nd consecutive positive session, in a move which proved better than initially expected, despite being nothing more than a very promising start.
However, something more than a technical reaction is needed for the market to overcome the 1,550 level, according to Pegasus, adding that in the absence of positive catalysts, the interest is focus on the shares that are involved in the privatization program.
“ATHEX will most probably accumulate at current price levels”, says Marfin Analysis. “Any interest should be driven towards stocks where State’s participation is quite significant, whilst volumes are seen once again poor”, it adds.
Kyprou Securities and Eurobank Equities also expect weak activity and thin turnover today.
Across the board, the General Index is at 1,502.92 units, down 1.84%, moving downwards from the beginning of the session. Turnover stands at €36m, while a total amount of 102 shares decline, 31 rise and 49 remain unchanged.
Banks are at 1,192.20 units, down 3.19%. Hellenic Postbank falls by 4.97%, while National Bank and ATEbank decline by 3.58% and 3.57% respectively.
Greek banks are under severe pressure, with the index posting major losses of more than 3%, while almost all shares of FTSE20 are on negative grounds.
Pegasus Securities comments that the pending revision of state deficit for 2010 affects the credit rating of Greece, limiting the short-term investment profile of the market. It notes that the market provided yesterday investors with a 2nd consecutive positive session, in a move which proved better than initially expected, despite being nothing more than a very promising start.
However, something more than a technical reaction is needed for the market to overcome the 1,550 level, according to Pegasus, adding that in the absence of positive catalysts, the interest is focus on the shares that are involved in the privatization program.
“ATHEX will most probably accumulate at current price levels”, says Marfin Analysis. “Any interest should be driven towards stocks where State’s participation is quite significant, whilst volumes are seen once again poor”, it adds.
Kyprou Securities and Eurobank Equities also expect weak activity and thin turnover today.
Across the board, the General Index is at 1,502.92 units, down 1.84%, moving downwards from the beginning of the session. Turnover stands at €36m, while a total amount of 102 shares decline, 31 rise and 49 remain unchanged.
Banks are at 1,192.20 units, down 3.19%. Hellenic Postbank falls by 4.97%, while National Bank and ATEbank decline by 3.58% and 3.57% respectively.
