Battle of PPC vs Ethniki in the Stock Exchange

Unable to hold its morning gains, the Athens Stock Exchange is currently appearing, which is under pressure from selected stocks and is slipping into negative territory.

In particular, the General Index records losses of 0.33% at 832.04 points, while the turnover is at 15 million euros and the volume at 6 million units. The FTSE 25 also fell 0.13% to 2,000.57 points, while the banking index gained 0.17% to 523.22 points.

The Stock Exchange may appear weak to recover the levels of 850 points, but Elias Zacharakis of Fast Finance emphasizes that the Greek market is certainly not in the same bad situation as the foreign ones. He recalls that it comes from a multi-year recession expecting significant help from European packages, an increase in lending, foreign investment and finally much higher results than the forecasts for tourism for 2022. Certainly the fast pre-election period that has opened, regardless of whether whether or not there will be elections, it affects and frightens for the future, nevertheless these numbers for 2022 seem to be good at least until today.

According to him, everything shows that from these levels we can see a reaction, reminding that 900 units is now a very important level in the big picture. The technical part will help us to follow the movement from the moment buying signals are given. The turnover is at very low levels and it is most likely that while we are between 800 and 900 units we will have low flights in the turnover.

Technically, the General Index continues to revolve around the large support of the 800-unit zone, with the reaction here stopping at 843 units, which in case of securing will open the way for the 868 units. In the FTSE 25 an effort is made to maintain the 2,000 units, while the banking has support in the zone of 510 units with the resistance at 544 units.

On the dashboard

On the board now, PPC is losing 3.03%, with Piraeus and EYDAP losing 2.62% and 2.37% respectively. Over 1% is the drop in Hellenic Petroleum, IPTO and GEK Terna, while Jumbo, Motor Oil, Alpha Bank, Mytilineos, PPA, Lambda, Sarantis and Titan are moving slightly down.

On the other hand, Ethniki recorded gains of 2.30%, from + 4% in the morning, with OTE strengthening by 1.41%. OPAP, Coca Cola, ELHA, Eurobank and Aegean are moving slightly upwards. Unchanged are Ellactor, Viohalko, Terna Energy and Quest.