Banks lead the Stock Market higher

Today, the Athens stock market is testing its strength towards 860 points, led by the banking rise, which is fueled by the positive results that the sector has announced so far.

In particular, the General Index registers gains of 0.84% ​​at 858.18 points, while the turnover is at 5 million euros and the volume at 2.3 million pieces. An increase of 1.02% was recorded by the FTSE 25, at 2,071.07 points, while the banking index gained 2.70% at 535.23 points.

Although the market has struggled with low turnover, it is finally coming off a month that delivered gains of around 5%, with several titles giving a decent reaction after the lows of the first ten days of July. This week will also provide important reasons to put or sell as the results period comes to an end. So before we get into the hard core of seasonal trading contraction, we might see some notable moves from the remaining portfolios.

Of course, as Ilias Zacharakis of Fast Finance comments, psychology is still at very low levels worldwide as everyone is talking about a difficult winter. Certainly the decisions in relation to the evolution of the war plays its role, nevertheless everything shows that markets and bonds had discounted much worse situations. A positive news in the fall along with the decrease in inflation may be enough to bring optimism back to the markets. They themselves react as they see fit and usually when good news comes they find an opportunity to correct again.

On the board now, according to Zacharakis, we see that most are taking a wait-and-see attitude without rushing, with the sellers, at least at this stage, not being able to easily give bigger losses. The first results are encouraging, showing that the Greek economy and at the same time the listed companies are in a phase where they can hardly stop the upward trend of their results. The results of the banking sector are expected, which has definitely lagged behind in the stock market, as the fear of an increase in bad loans is noticeably higher. Such a thing, however, does not seem to be happening, waiting for the evidence from the results.

Dashboard

On the board now, Piraeus, Alpha Bank, Eurobank and Ethniki record gains that exceed 2%, while Viohalko, Titan, Hellenic Petroleum, ADMIE and Quest are up more than 1%.

OPAP, Aegean, GEK Terna, ELHA, Motor Oil, Terna Energy, PPC, Coca Cola and OTE are moving slightly upwards, with PPA and Ellaktor not changing. On the other hand, Mytileneos, Sarantis, Lambda and Jumbo are slightly down, with EYDAP at -1.38%.