All eyes focused on National’s increase

Investment interest all last week for domestic and foreign portfolios remained focused on the upcoming share capital increase of National Bank, with stocks posting a small rise and turnover taking a dip on the local bourse. The Athens Exchange (ATHEX) general index closed the week on Friday at 2,211.04 points, recording a growth of 2.24 percent over the previous week’s closure. The decline in turnover illustrates that investors are preparing to take part in the biggest Greek lender’s planned 1.25-billion-euro capital increase. It is true, though, that after peaking on June 2 following three excellent months, the Athens bourse has stagnated and remains particularly susceptible to liquidation orders from abroad. However, a report by Eurobank suggested last week that the rebound of the last few months may signal the start of a new upward trend in the long term for stock markets in general, as there are more and more indications that the worst of the financial crisis is over. The positive trend will likely help emerging markets and the USA to first rebound from the recession.