Rising turnover may lift stocks

Greek equities could be headed for higher ground this week amid signs that investors are shifting from bonds to shares after the government’s recent austerity measures. Last week’s announcements worth 4.8 billion euros have indicated to investors that the government is aggressively seeking a solution to the debt crisis, lifting hopes for solid support from EU peers. On Friday, the Athens bourse’s benchmark index gained 1.66 percent to 2,028.06 points, moving ahead almost 9 percent for the week. Analysts described the 2,100-point mark as «a fairly strong resistance» level, adding that a fresh bout of news will be needed for the general index to recapture this level. Daily turnover in the last five sessions was almost 50 percent higher than the last few weeks, brokers added. On the local news front, Hellenic Exchanges is reporting its earnings today, while EFG Eurobank is scheduled to unveil 2010 profit figures on Thursday.

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