Bank support for higher finds the Stock Exchange

The Athens Stock Exchange starts the new week positively, which seems to want to make another attempt to penetrate the 850 points, although at the moment the low trading activity does not help the long-term plans.

In particular, the General Index records gains of 0.92% at 842.50 points, while the turnover is at 3.5 million euros and the volume at 1.5 million units. The FTSE 25 also recorded an increase of 1.24%, to 2,027.99 points, while the banking index gained 2.72% to 536.52 points.

The ATHEX may have remained at current levels for several days, showing the stop at any downward pressures at intervals, but has not managed to change level, with the upward break of 850 points. We are now entering the last days of the second quarter, or the first half of the year, with the ATHEX moving in a small single-digit percentage of losses (-6.5%) with the respective developed European and American markets recording losses of up to 28%.

Of course, as reported by Beta Securities, the continuation of the reaction from the low of 814 points faded very quickly as there was no particular willingness from most of the board to follow the upward correction. Banks seem to be finding it difficult to make a second consecutive day of growth, with the result that the market image is losing momentum even on days when the outside world looks more positively charged.

Although the margin that is considered a minimum return point from the recent lows was not approached this week, buyers still have some reasonable chances to expect the General Index to reach 850 points. Of course, this does not change the prevailing short-term downward trend which requires exceeding 860 points and something better than average daily transactions close to 50 million euros. The calendar end of the first half may give more reasons to be active next week, even with the help of some special news in which the Market seems to have incorporated some expectations.

On the dashboard

On the board now, Ethniki is gaining 4.37%, Aegean is at + 3.56%, with Alpha Bank, Eurobank and Piraeus following with an increase of more than 2%. OTE, Viohalko, ELHA, Mytilineos, Terna Energy and Quest are also moving above + 1%.

Motor Oil, Coca Cola, OPAP, GEK Terna, PPA, PPA, Jumbo, Titan, Ellactor, IPTO and Lambda are moving slightly upwards, while Sarantis, Hellenic Petroleum and EYDAP are slightly down. PPC loses 1.28%.