Stocks may be in for soft start

Weak performance on international equity markets yesterday is likely to weigh on Greek stocks today after the Athens bourse’s recent gains. «We believe the conditions have ripened for… a solid correction,» said Manos Hatzidakis, head of investment strategy at Pegasus Securities. On Friday, the Athens bourse’s benchmark general index ended at 2,372.26 points, up 1.43 percent for the day, bringing the gains of the last month to nearly 10 percent. World stock markets fell yesterday, as investors booked profits and assessed whether the sharp rally in equities over the last three months could continue throughout the summer months. In Europe, the FTSE 100 index of leading British shares closed down 0.8 percent, while Germany’s DAX fell 1.4 percent. The CAC-40 in France ended 1.5 percent lower.