1% losses on the Stock Exchange ignoring the growth jump

of Alexandra Tombra

The 900 units continue to “scare” the Athens Stock Exchange, which today folded, to the level of 890 units in fact, succumbing to the presence of sellers and the absence of buyers.

In particular, the general index closed with a fall of 0.94% at 891.81 points, while today it moved between 899,170 points (-0.12%) and 887.70 points (-1.40%). The turnover amounted to 57.09 million euros and the volume to 19.69 million units, while 360 ​​thousand units were traded through pre-agreed transactions.

The large-cap index closed down 1.12% at 2,157.79 points, while Mid Cap closed at -0.41% at 1,409.66 points. The banking index closed with losses of 2.52% at 606.58 points.

Although the economy impressed with its pace in the first quarter of the year, as the growth rate reached 7%, no matter if analysts here and there praise the banking sector for the results of the first quarter, the Athens Stock Exchange does not shares as it seems these positive signs, as it closed down. In fact, the losses intensified slightly as soon as the data from ELSTAT on the Greek economy were announced.

Of course, in the big picture, as commented by a stock market source in Capital.gr, 2022 will be a difficult year for many economies and markets. The ATHEX has so far managed to be positive, while the rest are just trying to make up for some of the losses. This alone shows that the Greek economy is in another phase and can make a difference even in a period when the rest will try not to enter a recession.

Accumulation until younger

The market seems to be following the same pattern as in the days when it was testing 870 points, when it showed that it had to gather its strength before breaking the resistance. So these days, more specifically than last week, it is testing the level of 900 points, but remaining close but below it.

The estimates place the potential for a split when the monetary policy intentions of the European Central Bank become known. And analysts and markets may expect interest rates to rise, starting in July, but there is a question mark over the net that the eurozone could decide on government bonds. Especially after the latest article in the Financial Times about a special bond support program being developed by Frankfurt.

If the ECB finally decides that government bonds need support, then it will be a signal in all directions that government borrowing costs will remain low so that governments can meet the challenges of inflation and potentially low growth.

On the board

On the board now, Eurobank, Alpha Bank, Lambda, PPC and ELHA recorded losses that exceeded 2%, while over 1% was the fall in Ethniki, Piraeus, Biochalko, EYDAP, Mytilineos and Hellenic Petroleum.

GEK Terna, OPAP, OTE, PPA, Titan, Terna Energy, Ellactor and Motor Oil closed slightly lower, with Quest, Coca Cola and IPTO closing unchanged. On the other hand, Aegean closed with gains of 3.29%, Jumbo at + 1.27% and Sarantis at + 0.15%.