The sentiment in the Athens Stock Exchange is almost enthusiastic on Tuesday, on expectations of a positive outcome regarding the disbursement of the fifth instalment of the loan, while foreign press reports focus on a possible new aid loan to Greece.
After a prolonged period of weakness that the investing sentiment had being carried by hearsay and public statements, the domestic market reacts from the 14-year lows that recorded recently.
It is indicative that the cumulative losses of the General Index exceeded 13% in May, with only 6 upward sessions for the month, while cumulative losses of banks and FTSE20 amounted to 18.4% and 15.3% respectively.
Market analysts speak of a sharp reverse of investment psychology, which may enact a part of investors in waiting.
The narrowing of Greek government bond spreads contributes to the positive sentiment, while the trading turnover would be crucial for today’s meeting.
Analysts however state that “still nothing has been decided officially” and warn of highly volatile sessions, and that the upward reaction could provide an opportunity for consolidation for several investors.
Across the board, the General Index moves in positive territory since the beginning of the session, posting profits of 3.63%, at 1,285.22 units. The turnover stands at €56.9m, while a total amount of 117 shares rise, 28 decline and 28 remain unchanged.
Banks move sharply upwards, with gains of 5.69%, at 935.71 units. Eurobank soars, recording profits of 7.67%, while Hellenic Postbank and National Bank jump by 6.55% and 6.32% respectively.
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