The General Index of Athens Stock Exchange moves between profits and losses on Thursday, following three consecutive downward sessions.
FTSE20 shares post mixed signs, with Marfin Popular Bank and Alpha Bank standing out, while ATEbank, MIG and Ellaktor are under pressure.
In the wake of a merger proposal between Hellenic Postbank (TT) and TBank, the banking index moves into positive territory, although early profits of 2.68% have been already trimmed.
Market analysts comment that TT and TBank talks could revive discussions on consolidation in the banking sector, however they expect the market to react much more cautiously in relation with the unfruitful merger of National Bank and Alpha Bank.
This is attributed to the different magnitude of a potential deal and the stock “fatigue” that has preceded, along with the growing concern caused by fiscal developments. Moreover, there are still pending issues for the release of the fifth aid instalment to Greece, while the government is about to announce further austerity measures.
Across the board, the General Index is at 1,260.74 units, with marginal profits of 0.14%. The turnover stands at €30m, while a total amount of 30 shares rise, 39 decline and 26 remain unchanged.
Banks are currently at 947.39 units, posting profits of 0.95%. Marfin Popular Bank and Alpha Bank gain 1.61% and 1.59% respectively, while National Bank moves upwards by 1.47%. On the other hand, ATEbank falls by 4.17%.
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