The Athens market appears “trapped” close to 14-year lows, as the announcement of new austerity measures and privatizations fail to reverse the overall trend, while political developments fuel uncertainty.
Increased volatility was the key characteristic for banks’ course once more, as they failed to maintain intraday profits of 2% and ended close to session’s low, at 941.81 units, recording a drop of 2.43%.
FTSE20 index posted strong deviations, as OTE move sharply upwards at €7, with profits of 4.79%, while ATEbank was forced into heavy losses of 8.51%, followed by the rest of the bank, which recorded a decline between 4.62% and 1.95%.
Market analysts comment that the situation remains fluid, as the announcement of privatization program failed to boost the market, while uncertainty dominates the bourse regarding the implementation of the program. They are also concerned about the impact of the new tax measures on the economy.
They also note that the liveliness in the political scene fuels skepticism and the market focuses on the meeting between the President of the Republic and the political leaders.
The analysts do not rule out selective moves, in response to the results announced on Thursday, including National Bank. However, the positive reaction in individual shares can not change the overall trend of the market.
Across the board, the General Index ended at 1,286.88 units, with minor losses of 0.21%, after a fluctuation within a margin of 24 units. Approximately 20.7 million units worth €69.79 million (including 5.2 million in pre-agreed trade) were traded on Thursday, while a total amount of 75 shares declined, 54 rose and 152 remained unchanged.
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