Controlled profit taking on the Stock Exchange

of Alexandra Tombra

The Athens Stock Exchange is correcting today, which after a significant rally last week, the profits were attractive enough to become a partial listing today.

In particular, the General Index records losses of 0.52% at 944.73 points, while the turnover is at 24.6 million euros and the volume at 8.7 million units. The FTSE 25 also fell 0.65% to 2,297.44 points, while the banking index fell 0.92% to 684.91 points.

The market managed to capture the upgrade of Standard & Poor’s earlier, which came. Now the Greek economy is one step away from the investment grade, with most analysts seeing it coming in 2023, or maybe a little earlier. After all, as most analysts point out, the Greek economy may be affected by the challenges worldwide, but investors will appreciate the prospect of recovering the investment grade from Greece in the coming months.

According to DZ Bank, S&P justifies the upgrade primarily with the manageable effects of the Ukraine war on the Greek economy, the significant successes in reducing non-performing loans and the satisfactory implementation of structural reforms and fiscal consolidation. The economy is also expected to grow by 3.4% this year.

In such a context, the ATHEX goes through the last week of April and it remains to be seen whether its closure will preserve the acquis. As Elias Zacharakis of Fast Finance points out, everything shows that the year still holds many positive surprises in store, with the psychology continuing to be good despite the adverse conditions. The outcome of the war will play an important role as an early end to it can halt significant problems and halt high inflationary pressures.

On the other hand, in the next period, the investment boom will start to take shape from the new public investments through the programs of Europe. From the moment that the forecasts for growth come true and we enter the investment stage, we see no reason not to look in favor of the return of the Greek stock market in the coming years. “Seeing the big picture is much more profitable than trying to figure out the short-term course of the market,” he added.

On the board

On the board now, EYDAP loses 2.07%, with ELHA, Eurobank, Aegean, Alpha Bank, Quest, Titan, ELHA, Piraeus and Lambda following with losses of more than 1%.

Mytilineos, Viochalko, Sarantis, Coca Cola, OTE, Motor Oil, OPAP, IPTO, GEK Terna and Jumbo are moving slightly downwards, while PPC and Hellenic Petroleum are trying to move upwards. Unchanged are Terna Energy and PPA.