At the mercy of risk off due to Covid the Stock Exchange

The Athens Stock Exchange is plunging below 900 points today, which cannot absorb the wave of risk off that hits all European markets, in the shadow of the new measures to control the pandemic.

In particular, the General Index records losses of 1.64% at 896.47 points, while the turnover is at 37 million euros and the volume at 15.2 million units. The FTSE 25 also fell 1.53% to 2,147.64 points, while the banking index lost 3.02% to 589.25 points.

Although even the measures taken by the Greek government do not lead to large losses of economic activity, nevertheless no one expected that the country would be back to the situation it was in before the start of vaccinations. The market is going through the second “problematic” festive period in a row, while the chances of confirming the negative scenario for the development of 2021 are more.

The question…

Of course, what was pointed out by some analysts is that while the market showed a stagnation, even in the barrage of positive analyzes by foreigners, as soon as the risk of new measures returned, the “sensitivity” of the market increased. And in fact, the correction seems to “lean” on the whole board, not leaving many options in the portfolios to take advantage of the differentiation.

After all, European stock markets are moving in the “red”, with investors worried about the resurgence of cases on the continent, which evokes unpleasant memories of the domino lockdown that took place last year, which led to a recession in economies. Investors fear that a new round of restrictive measures to curb the rising tide of the fourth wave of the pandemic could undermine economic recovery again.

Now technically, the General Index has to keep the levels of 899 points, if it does not want to land at 876 points, but a scenario is very likely as nothing is expected to change immediately on the front of the pandemic. The banker, who after the “bounce” of last week returned to his downward course, is now approaching the main support of 583-586 points.

On the dashboard

On the board now, Ethniki records losses of 3.06%, with Eurobank, Viohalko, GEK Terna, ELHA, Sarantis and Alpha Bank following with a drop of more than 2%.

Over 1% are the losses in EYDAP, IPTO, Piraeus, Terna Energy, Motor Oil, Jumbo, PPC, Mytilineos, Ellactor, HELEX and OPAP, while Titan, Coca Cola, Aegean, PPA Hellenic, PPA are moving slightly down . OTE, on the other hand, wins 0.53%.