Resistance levels may be tested
With the flow of news on the domestic front thin this week due to it being the summer holiday period, investors will be keeping a close eye on market trends abroad as to how they affect Greek stocks. On Friday, the Athens bourse’s general index eased 0.14 percent to 1,625.99 points, bringing losses over the last week to just over 5 percent. Analysts are pointing to the 1,620-point mark as being the next resistance level but added that an upward rebound could be on the cards after the market fell for seven straight sessions on Friday. The week’s schedule of news includes the Bank of Greece announcing June’s current account figures on Wednesday. Interest in Hellenic Postbank (TT) may continue this week after the stock rose 65 percent over the last 30 days. The bank has been in the spotlight after Piraeus Bank offered in July to buy a controlling stake in it from the government. The Finance Ministry is appointing advisers to assess the deal as buyers turn to TT, betting that another peer may bid for a stake in it, according to brokers.
