NBG capital hike may help shape investor mood

Banks are likely to remain in the spotlight this week with investors awaiting news on the success of National Bank’s (NBG) 2.8-billion-euro capital boost, which winds up today. Demand levels for NBG’s rights issue and convertible bond could be seen by the market as a barometer on how investors, both locally and abroad, view the sector’s prospects. NBG sources said last week that, based on initial indications, demand from foreign investors for new National Bank shares was strong. Last week, the Athens bourse’s benchmark general index ended at 1,528.48 points, racking up gains of just over 4 percent during the last five sessions. Figures on the construction and industrial sectors as well as the job market are scheduled to be released in the coming days, offering clues on the state of the economy. Data on Greece’s industrial and manufacturing sector for August will be released today along with July figures on the construction sector, which is reeling from the pain caused by the ongoing recession. The unemployment figures for July are also scheduled for release on Thursday.

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