Athens Stocks attempt cautiously on thin turnover to put an end to the 10-day declining streak, in the wake of the bank stress tests and ahead of the European Union Summit on Thursday.
The stress test results did not provide any different news than the market anticipated, said Pegasus Securities in a report, adding that the trading would be assisted by hearsay related to a large-cap banking sector merger, as well as extended press reports concerning the finding of a formula in order for Greece to overcome the "selective default" status.
Technically, the pressures are intense, said Pegasus, commenting that the second quarter results announced later today are expected to affect the market (Coca Cola, Bank of America, Goldman Sachs, Yahoo and Apple).
On the board, the General Index is at 1,187.23 units with minor profits of 0.38%, moving into positive territory since the opening. Intraday profits reached earlier 1.38%, while the turnover is at €24.3 million. A total amount of 64 shares rise, 56 decline and 49 remain unchanged.
Banks jump by 2.40% at €814.04 units. ATEBank soars with profits of 7.02%, while Bank of Cyprus gains 5.96%. Alpha Bank, National Bank and Marfin Popular Bank post profits of 2.39%, 2.38% and 2.04% respectively.
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