Friday, May 20, 2011

Athens Stocks Flattish On Thin Turnover

After two sessions of high volatility, the General Index of the Athens Stock Exchange fluctuates around 1,320 units, while the trading activity remains moderate. 


It is indicative that half an hour after the bell, the turnover just exceeded €9m, of which €5m related to transactions of National Bank, Coca Cola 3E and OPAP. 

Weak trading and degrading performance in the last hour of yesterday’s session may trigger an upward correction at the beginning of the session on Friday, said Pegasus Securities, adding that the General Index remains at technically devaluated levels.

Intense pressures and consecutive lows in recent sessions, given the lack of any additional negative developments could create a strong mixture for upward reaction. 

“In the absence of any significant news flow and catalyst, sessions of similar characteristics should be awaited”, said Marfin Analysis in a report. “Some interest could be seen on Hellenic Petroleum on the back of the 1Q11 results that are going to be announced today post market close”, Marfin added.

Across the board, the General Index is at 1,317.38 units, with minor losses of 0.32%, moving into a narrow margin of 12 units. The turnover stands at €19m, while a total amount of 60 shares decline, 34 rise and 41 remain unchanged. 

Banks record losses 0.64%, at 968.87 units. Only Atebank, Marfin Popular Bank and Eurobank move in green, posting profits of 1.96%, 1.45% and 1.23% respectively. On the other hand, National Bank and Alpha Bank decline by 1.67% and 0.58% respectively.











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