Greek banks’ “deferred” correction and PPC’s losses led the General Index of ASE into losses below 1,290 on Tuesday, while the turnover stood at very low levels.
Viohalco and Mytilineos topped FSTE20, while on the other hand ATEBank recorded an 11.60% drop, following profits of 45.97% in the last three sessions.
The negotiations on the terms of participation of private institutional investors in the rollover of Greek debt and the reactions of the rating agencies towards the French plan are still on the market’s focus, analysts commented.
They consider the profit-taking moves that occurred today as anticipated and expect the traditional summer weakness to become gradually more noticeable on the Greek board.
"Even though we fell below the psychological 1,300 point level, the market is kind of searching for direction," a local analyst told Dow Jones Newswires. "And the turnover today is pitiful."
On the board, the General Index ended with losses of 1.39% at 1,288.32 units, after a fluctuation into a margin of 23 units. On Tuesday, approximately 16.59 million units worth €53.87 million traded, while a total amount of 70 shares declined, 68 rose and 142 remained unchanged.
Banks’ fluctuation was stronger, ending at 1,000.66 units, with losses of 2.84%, just above session low.
On FTSE20, Viohalco and Mytilineos recorded profits of 3.19% and 1.03% at €4.2 and €4.9 respectively, while Motor Oil and Ellaktor gained 0.93% and 0.81% respectively.
On the other hand, besides ATEBanks, PPC and Alpha Bank fell by 6.57% and 4.32%. National Bank declined by 2.88% at €5.05, while Bank of Cyprus posted losses of 2.40% at €2.03.
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