Cautious and selective movements in the Stock Exchange

Today, the Athens stock exchange is moving mildly upward, but also cautiously, trying to gain a safety distance from the levels of 800 units, but without being able to manifest a decisive reaction.

In particular, the General Index registers an increase of 0.38% to 808.82 units, while the turnover is at 4.6 million euros and the volume at 1.3 million pieces. The FTSE 25 also recorded gains of 0.42%, at 1,937.73 points, while the banking index fell by 0.43% at 493.39 points.

Today, the market is expected to make more cautious moves, as is traditionally the case on days when the US market is on a holiday (4th of July). And it is to be expected, on such days, that the market does not show its trend today, as it would have if most of the portfolios active in Athens Street had participated.

Adaptation to the new reality

The AX may also be adapting to the new reality, since, as Il. Zacharakis points out, July seems to be the first month that we will have increased interest rates from the ECB, with the bond market having discounted much more. Inflation continues to plague economies with base metals on the one hand having begun a significant correction, yet we do not see the same picture in oil and natural gas.

According to the certified analyst, Petros Steriotis, the DG is imitating the ongoing trends of the American indices, which have stopped the logic of buy the dip, with today’s holiday on Wall Street being an opportunity for reflection. Also, in the near future, institutional portfolio managers will continue to be conspicuous by their absence ahead of the summer holidays, with all that implies for the already eaten trading activity on Athens Avenue.

On the dashboard

On the board now, ADMIE and Aegean are recording gains of 2.05% and 2% respectively, with OPAP, OTE, Hellenic Petroleum, EYDAP, Quest, Jumbo and Lambda following with an increase of more than 1%. PPC, Mytilineos, Eurobank, Titan, ELHA, Biohalko, Ellactor and Sarantis are moving slightly upwards.

On the other hand, Piraeus recorded losses of 2.38%, Alpha Bank lost 1.20%, with Ethniki, Coca Cola and Terna Energy following with small losses. Without change are PPA, GEK Terna and Motor Oil.