Investors to start week with caution

Greek stocks may hardly move today, the start of a week shortened by a holiday, as international equity sentiment has become more cautious, following a seven-month rally on global markets. On Friday, the Athens bourse’s benchmark general index gained 0.96 percent to 2,838.13 points, trimming losses for the week to 2.86 percent. Brokers pointed out that falling volumes on the last few sessions indicate that foreign investors are currently sitting on the sidelines, waiting for signs of the strength of the global economic recovery. On Wall Street, stock bulls may hit the pause button again this week if a wave of earnings due from big names such as Exxon Mobil and a slew of economic data offer no new incentives to extend recent gains. Local news is expected to remain thin this week. The National Statistical Service is scheduled to release data on September producer prices and August retail sales on Friday. The Athens stock and derivative markets will be closed on Wednesday due to the «Ochi Day» public holiday.