The Athens Stock Exchange maintains its declining mood on Wednesday as the uncertainty about the final version and approval of the medium-term program continues.
Banks are forced into losses of 3.4% earlier, with the heaviest pressures exerted on ATEbank and Alpha Bank, while the biggest part of FTSE20 moves in negative territory.
The potential turmoil resulting from major political decisions to take place in Greece in the next days hurt investors’ sentiment, said Kyprou Securities in its morning report.
“Greece needs to decide about approving the Mid-term plan and facing tight measures for the next years or not approving the plan and face a default of some form”, it added.
“It is a major decision that could affect not only Greece but the euro and the Eurozone. We are optimistic that in spite of high civil demonstrations against the tough measures, reasoning will prevail benefitting the ASE in the long run”, Kyprou stated.
The unclear schedule of voting of the medium-term program and the uncertainty it caused, have restored pressures on the domestic stock market, Pegasus Securities commented. Lack of positive catalysts and negative sentiment are expected to trigger selling moves.
Across the board, the General Index is at 1,280.38 units, down 1.30%, moving downwards since the opening. The turnover stands at €26.5m, while a total amount of 69 shares decline, 24 rise and 31 remain unchanged.
Banks are at 957.86%, with losses of 2.72%. ATEbank falls by 5.30%, while Alpha Bank and Marfin Popular Bank move downwards by 3.82% and 3.03% respectively.
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