Athens market opened cautiously on Monday, with big caps maintaining a positive sign, although Greek banks underperform following the upward surge on Friday.
The moves on the board of the ASE are nervous as European officials failed once again to decide on a bold solution for the Greek problem, postponing any decision for early July, while the passing of the medium-term program is considered a prerequisite.
The inhibitions of investors continue, although the market anticipates an amount of positive developments in the new future, as the government’s vote of confidence is expected tomorrow and the adoption of the medium-term fiscal program is planned for next week, said Takis Zamanis, head of trading at Beta Securities.
He estimated that there will be no problem at the political level, referring to both resolutions and “sees” an upward movement in the Greek market, since the obstacles are overcome and both the release of the fifth aid instalment and the second rescue package to Greece finalise.
The removal of political risk and liveliness in the passing of the medium-term program are expected to help the market maintain its upward course, according to Pegasus Securities.
“Friday΄s jump is expected to be continued today, at least during the start of the session, despite the slight miss of EU leaders to reach a final and concrete agreement over Greece΄s 2nd bailout during the weekend”, it adds in its morning report.
Across the board, the General Index moves between profits and losses, currently at 1,253.52 units, with marginal losses of 0.07%. The turnover stands at just €20m, while a total amount of 54 shares rise, 52 decline and 36 remain unchanged.
Banks move downwards by 0.70%, at 954.11 units. ATEBank falls by 4%, while Bank of Cyprus declines by 2.34%.
Hellenic Petroleum and Ellaktor top FTSE20, with profits of 2.19% and 1.94% respectively. Coca Cola 3E and PPC rise by 1.59% and 1.06% respectively.
