MARKET NEWS Monday, 2 November 2009 - 11:58 |
Greek Market In The Red |
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The correction mood registered last week seems to be sustained on Monday as well.
CIT´s filling for bankruptcy does not seem to surprise the European markets. Still, on the aftermath of Wall Street´s losses on Friday, the upwards movement of the European markets is seen as fragile. “We anticipate nervousness and volatility to be the main elements of the trading session today,” Pegasus daily says in its morning report. Marfin Analysis notes that “it seems that we find ourselves within a correction period, whose short term trend will be determined, apart from foreign markets’ march, by the announcement of 9M08 results as well.” The General Index now drops 2.27% at 2,625.11, with 115 stocks dropping against 9 rising. The banking index dips 2.32%, with ATEBank, Piraeus Bank and Bank of Greece dropping more than 3% and NBG trading below 25 euro. FTSE20 slips 2.09% while FTSE40 and FTSE80 slow 1.76% and 1.61%.
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