Market Comment
Amid macro woes and
global media negative newsflow on Grexit (10-year Greek bond yield surpassed
the 10% mark for the first time in 15 months), General Index came under
strong pressure ending 1.46% lower at 777.70 points. Meanwhile, ASE trading
activity rose above EUR125m levels.
Having said that,
we witnessed a selective buying interest in the second half of the session,
more evident on Eurobank, Piraeus Port and Grivalia Properties, up
5.14%, 3.90% and 2.50%,
respectively.
Worst hit were
Ellaktor, National Bank of Greece, EYDAP and Jumbo, shedding 5.50%, 5.11%,
5.09% and 4.94%, respectively.
Given that Greek
equities managed to recover from an intraday low of 3.47% (761.20 points) a
further technical rebound may be in the cards today.
¢ In the Spotlight
Greece/General Elections: According
to GPO poll, Syriza leads New Democracy by 3.2%.
Greece 26-Week T-Bills:
Yesterday, Greece sold EUR1.625bn in 26-Week Treasury bills, bid/cover 1.58x
(previously 1.81x), yield 2.30% (previously 2.15%).
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