Cautious moves on the Stock Exchange

The Athens Stock Exchange is still receiving tone from abroad, which remains in the zone of 860 points until there is visibility with the inflation data that are expected to be announced today in the US.

In particular, the General Index records gains of 0.50% at 865.13 points, while the turnover is at 4.5 million euros and the volume at 2 million units. The FTSE 25 rose 0.51% to 2,086.73 points, while the banking index fell 0.03% to 576.84 points.

Cautiousness in Athens Avenue is the prevailing “strategy” at a time when foreigners are expecting data from the US consumer price index, as they will judge the decisions of the Federal Reserve, and therefore the course of regional markets, such as the ATHEX. . Most indications are that inflation has peaked, a development that, if confirmed, would not change the Fed’s policy, raising estimates for a return to normalcy. After all, in Europe, too, inflation figures have led several European Central Bank officials to suggest that they are considering raising interest rates from July in order to deal with the high consumer price index.

Of course, what is pointed out by domestic analysts is that the ATHEX has shown great weakness from the last week of April until today. Especially the banking sector notes losses of up to 20% from the high of 702 points that was found on April 21, as it is “ahead” in the fall of other securities.

Technically, according to Ap. Manthos of Aenaon Markets, the daily and weekly charts of both the Banking Index and the four banking houses now show intense concern. The downward movement has dissolved in its passage strong supports such as those at 650, 625, 600 and now lately it is testing the endurance of 570 units. Below that, the index does not have anything with a “vigor” of repulsion to its low of 08/03 at 505 points or another, ie -12.5% ​​from yesterday’s closing at 577 points.

On the board

On the board now, Sarantis wins 3.88% and Viohalco is at + 2.43%, while over 1% is the rise in Motor Oil, Jumbo and PPC. Eurobank, OTE, Terna Energy, OPAP, Piraeus, Quest, Mytilineos, GEK Terna, Titan, IPTO, Piraeus, Alpha Bank, PPA and ELHA are moving slightly upwards.

On the other hand, Coca Cola, Ethniki, Hellenic Petroleum, Ellactor, Lambda and EYDAP are moving in negative territory, but none of them is moving with losses of more than 1%, while Aegean is losing 1.52%.