American push and jump in the Stock Market

The announcement of the US inflation data, which recovered to 870 points, followed the jump in the international markets as well. With today’s rise, the general index recovered the levels before the plunge caused by last Friday’s political crisis.

In particular, the general index closed with gains of 1.86% at 875.47 points, while today it moved between 858.14 points (-0.16%) and 876.46 points (+1.97%). The turnover amounted to 38.1 million euros and the volume to 16.8 million pieces.

The high capitalization index closed with an increase of 1.88%, at 2,109.48 points, while the Mid Cap ended trading at +1.82% and at 1,396.91 points. The banking index closed with gains of 2.88% at 564.57 points.

The importance of central banks

The market managed to follow the bullish sentiment of the international markets, which was strengthened after the announcement of the US inflation data. As everything shows, the Federal Reserve’s policy is starting to pay off, without the economy slowing down, as confirmed by last Friday’s labor market data.

In the pattern of the Fed’s policy, reductions with the tactics of the European Central Bank come effortlessly, even after the new deterioration that Greek bonds showed today. As the ECB lags behind the Fed in the pace of policy tightening, data from the US points the way for the European Bank to control European inflation as well as support the economy.

The technical picture

Technically now, the market managed to break through the 200-day exponential moving average at 866.55 for the second time in a week and turn its short-term trend into an uptrend. It also successfully tested the next level of 870 units, paving the way for 880 units, the last step before “seeing” 900 units again.

In addition, according to the certified analyst, Petros Steriotis, the Bank Index registered levels that confirm the buy signal of the upward splitting of the “Russian-Ukrainian” trend line that “caps” the Market in the last six months. Although today the sector did not take the lead in the reaction, nevertheless the expectations for the next period are positive, as long as the positive climate in the international markets is maintained.

On the dashboard

On the scoreboard now, Piraeus closed at +6.34%, Biochalco at +5.11% and PPC at +4.87%, while Ethniki, Lambda and ELHA were up more than 3%. The profits of EYDAP, Coca Cola, Alpha Bank, Eurobank and Hellenic Petroleum exceeded 2%, while those of Titan, Mytilene, OTE, ADMIE and Aegean were 1%.

Terna Energy, PPA, Quest, Jumbo, OPAP and GEK Terna closed slightly higher, while on the other hand there were small losses in Motor Oil. Ellactor lost 1.88%, correcting from its upward streak, while Sarantis fell 3.67%.