After a four-day upward streak, the General Index of ASE ended above 1,300 units with marginal losses on Monday, in the wake of Eurogroup’s approval of the disbursement of the fifth aid loan tranche to Greece.
Short-term profit-taking moves occurred during the trading session, mainly in banks, with the buying interest offsetting the pressures and leading the banking index in marginally positive territory.
ATEBank’s jump of 19.787% (29.8% intraday) stood out on FTSE20, while MIG, Ellaktor and Hellenic Petroleum suffered severe pressures.
Pegasus Securities comments that the four consecutive upward sessions increase the short-term profit opportunities, limiting the force of bid-side interest, said Pegasus Securities in a report.
The market already counts an upward streak of 80-90 units, which reflect yields of 15-20% in banking shares, Pegasus added.
Market analysts point out that now the market focuses on procedures to finalize the terms of voluntary participation of private institutions in the Greek debt rollover, while the announcement by S&P on the easing repayment terms on Greece΄s sovereign debt has caused concern, as it would amount to a default under the ratings firm΄s criteria.
On the board, the General Index closed at 1,306.45 units, with minor losses of 0.16%, after it moved between profits and losses into a margin of 24 units. On Monday, approximately 25.24 million units worth €77.87 million traded, while a total amount of 69 shares rose, 75 declined and 136 remained unchanged.
Banks ended at 1,029.90 units, with marginal profits of 0.04%. Besides ATEBank; Alpha Bank gained 1.37%, while Hellenic Postbank, and Eurobank declined by 2.06% and 2.02% respectively.
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