The Athens Stock Exchange is starting the new week on a positive note, which, however, does not seem particularly willing to change the short-term downward trend.
The Greek market seems to remain stuck in... mediocrity and sluggishness, with successive capital raisings having drained the available liquidity of investors, which requires a reasonable recovery time.
At the same time, the days' news is quite "rich," as on Thursday the ECB is preparing for another rate cut, while on Friday S&P will publish its usual report on Greece (BBB-, positive outlook).
Specifically, in the first session of the week, the General Index is up slightly by 0.34% to 1,421.58 points, gaining about five points compared to Friday's close (1,416.78 points).
The arc of the daily fluctuations extends over two points (from 1,421.18 to 1,423.78 points), with the turnover of the trading volume hovering at just 2.5 million in the first 15 minutes.
The banking index is trying to recover some of the recent losses, which have driven recent multi-year highs to a distance of more than 10%. Thus, it currently stands at +0.49% and 1,212 points.
Alpha shares are up +1.47% and EUR 1.489, Ethnikis shares follow at +0.38% and EUR 7.478, Piraeus shares are trading +0.81% and EUR 3.73, while Eurobank shares are down -0.25% and EUR 1.9845.
In the high-cap index (+0.47% and 3,452 points), Aegean's share rises +1.9% and 10.2 euros in an attempt to recover from months of lows. Metlen and Cenergy expand by at least +1%, while shares of Ellactor, Elvalhalcor, Jumbo, and Coca-Cola gain more than 0.6%. On the flip side, Autohellas shares retreat to -0.9% and €10.5, with EYDAP shares sliding 1.4%.
As for the mid-cap index (+0.55% and 2,294 points), Quest's share climbs +5% and 5.3 euros, boosted by the acquisition of a majority stake in Benroubis. Fourlis, Intracom, and Intralot follow at 2%, 1.9%, and 1.1%, respectively. On the other hand, Techniki Olympiaki's shares are down 1.2%. A special mention should be made of Attica Bank, which soars to +22% and €3.20, thanks to the approval of the prospectus, which paves the way for the €735 million capital raise.
