ATHEX receives a heavy … index

The Athens Stock Exchange is currently returning to the levels of 890 points, receiving a strong impetus from the index-weighted OTE and Coca Cola, which absorb the selective pressures that are not lacking even today.

In particular, the General Index records gains of 0.91% at 892.18 points, while the turnover is at 21 million euros and the volume at 7.5 million units. The FTSE 25 also recorded an increase of 1.07%, to 2,163.03 points, while the banking index gained 1.67% to 642.35 points.

The lack of visibility in the midst of intense pressures on both the geopolitical front and the economic front is the main impediment to the ATHEX being able to move more decisively. However, today, the Bank of Greece, like yesterday Moody’s, gave a guide on how much the economy will be affected by the war in Ukraine and high inflation.

As stated today by the Governor of the Bank of Greece, Giannis Stournaras, the Greek economy is projected to continue growing in 2022, but at a slower pace than the initial forecast (4.8%). According to Mr. Stournaras, the GDP growth rate is limited to 3.8% in the baseline scenario and 2.8% in the adverse scenario, depending on the extent and duration of the disturbances in international energy and food prices, as well as the deterioration the climate of confidence and the turmoil in the financial markets.

Today’s market recovery, however, maintains the trend with 878 points being the significant support of the general index and 908 points being the resistance that in any case needs an increase in turnover to secure if it wants to try again at 934 points. According to Fast Finance, in the big picture, most of the market has recovered 61% of its losses due to the war.

On the board

On the board now, Ellactor is gaining 3.58%, with Eurobank, Coca Cola and OTE following with an increase of more than 2%. Alpha Bank is at + 1.82% and ELHA is at + 1.40%, while Terna Energy, Titan, OPAP, Piraeus, EYDAP, PPA, IPTO, Sarantis, Motor Oil, Lambda, Hellenic Petroleum are moving slightly upwards. Biochalco and National.

On the other hand, Quest loses 2.59%, with Jumbo, Aegean, GEK Terna and Mytilineos moving with controlled losses. PPC is unchanged.