Athens Stock Exchange: 890 points withstood the blow to banks and Coca Cola

They finally withstood the levels of 890 points, despite the strong fall of index stocks on the Athens Stock Exchange, which came under strong pressure due to geopolitical developments in Ukraine, unable to stop the dip of securities that appear to be affected by Western sanctions on Russia.

In particular, the General Index closed with losses of 3.85% at 891.58 points, while today it moved between 918.58 points (-0.94%) and 878.08 points (-5.30%). The turnover amounted to 276.2 million euros and the volume to 157.7 million units, while 80 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 4.32%, at 2,160.52 points, while at -2.37% the Mid Cap completed the transactions at 1,528.27 points. The banking index closed with losses of 8.41% at 639.46 points.

The shock of war

Although market turmoil was evident last week, no one expected that tensions between Russia and the West would have reached such levels by the weekend that sanctions would have affected the Russian financial system and its European affiliates. Thus, the ATHEX followed the picture that prevailed in European markets. The German DAX is at 14,270 points, down 2.05%, the French CAC 40 is also down 2% and is trading at 6,615 points, as is the British FTSE 100, which is down 1% at 7,409 points.

Thus, while the markets are trying to heal their wounds from the pandemic, they were hit by war and even in a size that they did not expect a few days ago, comments Elias Zacharakis of Fast Finance. Although the upheaval on the Ukrainian front was evident in international markets in the past, no one, or even a small portion of investors, expected the escalation to be so large that we would talk about war and heavy economic sanctions. the West. It is indicative that the exclusion of Russia, ie the Russian banks and the central bank of the country from Swift, creates problems in related parties from other countries that have exposure to the Russian economy and Russian banks, as they can not pay and be paid .

After all, one should not forget that a few days ago we were concerned about the size of inflation and at the same time the increase in interest rates, with the fact that the economies are even more concerned. The geopolitical risk, even after a war, is problematic, but if one looks at the statistics in all cases, after a short period of time, the markets are back on track.

Also, no one can ignore the new rise in energy costs, due to the events in Ukraine, with oil gaining 4.5% and gas recording a jump of 20%. Markets are increasingly worried about the possibility of an energy crisis following new Western sanctions imposed on Russia over its invasion of Ukraine.

On the board

On the board now, Eurobank closed with losses of 10.11%, with National and Coca Cola following with -8.8% and -8% respectively. Alpha Bank recorded losses of 7.48%, Piraeus lost 5.6%, Viohalco was down -5.08%, while over 4% was the drop in GEK Terna, Ellactor and Mytilineo.

Losses in ELHA reached 3.99%, the fall in Motor Oil, Aegean, OTE and PPA exceeded 2% and that of Quest and Jumbo by 1%. IPTO, Hellenic Petroleum, Terna Energy, Sarantis and PPC closed slightly lower, with Titan closing unchanged. The total recovery was also achieved by EYDAP, Lambda and OPAP, which closed gently, but positively, in a difficult meeting.