The orders for the sale on the Athens Stock Exchange are taking the form of an avalanche at the moment, with the General Index now losing more than 25 points, reaching the zone of 840 points, having in fact the vast majority of its titles under great pressure. The picture is similar in the major European stock markets which follow the sell off of the indices in Wall Street and Asia, as global markets are shaken by concerns about frantic inflation and the impact on consumption.
In particular, the General Index records losses of 2.86% at 841.96 points, while the turnover is at 45 million euros and the volume at 19 million units. The FTSE 25 also recorded a fall of 2.97%, to 2,019.46 points, while the banking index lost 5.51% to 534.20 points.
The defenses on the ATHEX have now fallen for good, with the General Index going to the next level, that of 820 points, but with many of its titles decimated by the strong sell off. A sell-off that also happens in the large international markets, indicative of acrobatics in the early stages of the bear market. After all, the current picture of the ATHEX was more or less expected, considering the picture we see in international markets since the outbreak of the war between Russia and Ukraine.
Risk aversion in the markets has now taken on great proportions, as the mix of concerns is now large. Fears of Russia’s war in Ukraine, rising inflation, supply chain problems, slowing growth and tightening monetary policy are driving investors to traditional “safe haven” assets. And for foreigners, the ATHEX is not among their choices.
Technically now, the break of 850 points will lead the General Index to the low area of ​​last March, testing prices around 800 points. The question, of course, is whether a stock absorbs part of any purchase orders that occur, so that the rerating on the portfolios is not completely negative for the ATHEX. The difficult ones are therefore ahead and impose much stricter criteria for selecting stocks that will take into account the resilience in the difficult environment.
On the board
On the board now, Piraeus records losses of 9.41%, with Jumbo, Viohalko, Ethniki and Alpha Bank following with a drop of more than 5%. Mytilineos is at -4.36%, with Eurobank, Coca Cola, Aegean, Hellenic Petroleum, ELHA and PPA following with losses of more than 3%.
The drop in Motor Oil, Titan, Quest, PPC and EYDAP exceeds 2% and that in Terna Energy, Lambda and GEK Terna exceeds 1%. Sarantis, OPAP and Ellactor are moving slightly downwards, while OTE notes … a jump of 2.59%.
Dive to 840 points for the Stock Exchange
The orders for the sale on the Athens Stock Exchange are taking the form of an avalanche at the moment, with the General Index now losing more than 25 points, reaching the zone of 840 points, having in fact the vast majority of its titles under great pressure. The picture is similar in the major European stock markets which follow the sell off of the indices in Wall Street and Asia, as global markets are shaken by concerns about frantic inflation and the impact on consumption.
In particular, the General Index records losses of 2.86% at 841.96 points, while the turnover is at 45 million euros and the volume at 19 million units. The FTSE 25 also recorded a fall of 2.97%, to 2,019.46 points, while the banking index lost 5.51% to 534.20 points.
The defenses on the ATHEX have now fallen for good, with the General Index going to the next level, that of 820 points, but with many of its titles decimated by the strong sell off. A sell-off that also happens in the large international markets, indicative of acrobatics in the early stages of the bear market. After all, the current picture of the ATHEX was more or less expected, considering the picture we see in international markets since the outbreak of the war between Russia and Ukraine.
Risk aversion in the markets has now taken on great proportions, as the mix of concerns is now large. Fears of Russia’s war in Ukraine, rising inflation, supply chain problems, slowing growth and tightening monetary policy are driving investors to traditional “safe haven” assets. And for foreigners, the ATHEX is not among their choices.
Technically now, the break of 850 points will lead the General Index to the low area of ​​last March, testing prices around 800 points. The question, of course, is whether a stock absorbs part of any purchase orders that occur, so that the rerating on the portfolios is not completely negative for the ATHEX. The difficult ones are therefore ahead and impose much stricter criteria for selecting stocks that will take into account the resilience in the difficult environment.
On the board
On the board now, Piraeus records losses of 9.41%, with Jumbo, Viohalko, Ethniki and Alpha Bank following with a drop of more than 5%. Mytilineos is at -4.36%, with Eurobank, Coca Cola, Aegean, Hellenic Petroleum, ELHA and PPA following with losses of more than 3%.
The drop in Motor Oil, Titan, Quest, PPC and EYDAP exceeds 2% and that in Terna Energy, Lambda and GEK Terna exceeds 1%. Sarantis, OPAP and Ellactor are moving slightly downwards, while OTE notes … a jump of 2.59%.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
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