The Athens General Index ended downwards for a third consecutive session, with the total turnover slightly enhanced compared to recent meetings.
Banking index closed at session’s low (1,025.11, down 2.73%), just above a record low, with the pressures on Bank of Cyprus standing out, while National Bank moved below €5 intraday.
Merit Securities commented that the recent sessions have been without nerve, causing banking shares to record major profits or heavy losses in thin trade. This course may continue for some time, unless there is a significant development in the financial affairs of the country, it added.
The short-term level of support seems to lie in the region of 1390-1400 units, while the level of 1450 units has been proved significantly resistant. The break of the latter on heavy turnover could indicate a substantial short-term upward reaction, said Merit.
The domestic market seeks for a domestic or overseas catalyst to support a substantial upward reaction, said Pegasus Securities in its morning report, while Marfin Analysis referred to the absence of any significant news flow and catalyst.
In addition Kyprou Securities remains cautious on ASE, although it doesn’t considers a haircut on the Greek debt now as highly possible.
Across the board, the General Index closed with losses of 1.79%, at 1,387.59 units, moving in negative territory for the biggest part of the trading session. Intraday losses reached 2.16%. Approximately 22.12 million units worth €86.37m were traded on Wednesday, while a total amount of 83 shares declined, 55 rose and 143 remained unchanged.
ATEbank topped FTSE20 with profits of 4.55% at €0.46, while only Jumbo and Titan followed on positive grounds, recording gains of 1.29% and 0.06% respectively.
On the contrary, Viohalco and Bank of Cyprus bore the heaviest pressures, with losses of 3.90% and 3.73% respectively, while Alpha Bank and Piraeus Bank fell by 2.92% and 2.80% respectively. Eurobank and Hellenic Petroleum lost 2.76% and 2.70% respectively.
Banking index closed at session’s low (1,025.11, down 2.73%), just above a record low, with the pressures on Bank of Cyprus standing out, while National Bank moved below €5 intraday.
Merit Securities commented that the recent sessions have been without nerve, causing banking shares to record major profits or heavy losses in thin trade. This course may continue for some time, unless there is a significant development in the financial affairs of the country, it added.
The short-term level of support seems to lie in the region of 1390-1400 units, while the level of 1450 units has been proved significantly resistant. The break of the latter on heavy turnover could indicate a substantial short-term upward reaction, said Merit.
The domestic market seeks for a domestic or overseas catalyst to support a substantial upward reaction, said Pegasus Securities in its morning report, while Marfin Analysis referred to the absence of any significant news flow and catalyst.
In addition Kyprou Securities remains cautious on ASE, although it doesn’t considers a haircut on the Greek debt now as highly possible.
Across the board, the General Index closed with losses of 1.79%, at 1,387.59 units, moving in negative territory for the biggest part of the trading session. Intraday losses reached 2.16%. Approximately 22.12 million units worth €86.37m were traded on Wednesday, while a total amount of 83 shares declined, 55 rose and 143 remained unchanged.
ATEbank topped FTSE20 with profits of 4.55% at €0.46, while only Jumbo and Titan followed on positive grounds, recording gains of 1.29% and 0.06% respectively.
On the contrary, Viohalco and Bank of Cyprus bore the heaviest pressures, with losses of 3.90% and 3.73% respectively, while Alpha Bank and Piraeus Bank fell by 2.92% and 2.80% respectively. Eurobank and Hellenic Petroleum lost 2.76% and 2.70% respectively.
