The slide of Greek stocks and indices continued unabated on Monday, as the domestic market watches nervously the political developments regarding the fate of the disbursement of the fifth aid instalment.
The new pressures by the European Commissioner Olli Rehn on a bipartisan consensus and the failure of Greek political parties to respond to, maintain the negative climate in the market.
It is indicative that banks recorded losses of 8.28% in the last three sessions, while cumulative losses for the five-month period amount to 29.23%.
Market analysts are concerned about the turnover, which reached €67m on Monday, despite the fact that the London Stock Exchange was closed, due to holiday. For the near future, they expect negative sentiment to continue, as long as the European Union insists on bipartisan consensus, and the review of Greece’s performance by the Troika is still pending. The short-term trend remains negative and the risk lies clearly on the downside.
"We are seeing the same negative sentiment continuing to hold sway pending the outcome of the talks," a local analyst told Dow Jones Newswires.
The market is actually in a free fall and no response is in the offing, said Guardian Trust Securities. Real investors have abandoned the Greek market, and only short-term players are involved now, it added.
Across the board, the General Index closed at session’s low, 1,240.25 units, down 1.95%.Approximately 27.36 million units, worth €66.9 million were traded on Monday, while a total amount of 106 shares declined, 41 rose and 134 remained unchanged.
Banks lost 900 units, ending at 885.34 units, down 3.81%. Alpha Bank bore the heaviest pressures, posting losses of 9.06%, while Eurobank, Marfin Popular Bank and Piraeus Bank fell by 6.21% 4.69^ and 4.00% respectively.
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