Easter Rally on the Stock Exchange

of Alexandra Tombra

The three-day “week” for the Athens Stock Exchange ended in the best possible way, which in three days added more than 30 points to the general index and many expectations for the next day of the economy.

In particular, the general index closed with an increase of 0.96% to 949.68 points, while today it moved between 951.95 points (+ 1.20%) and 942.74 points (+ 0.22%). The turnover amounted to 122.17 million euros and the volume to 45.01 million units, while 6.88 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 1.19%, at 2,312.55 points, while at + 0.09% Mid Cap completed the transactions at 1,557.24 points. The banking index closed with gains of 2.04% at 691.30 points.

On a weekly basis, the general index closed with an increase of 3.34%, while the FTSE 25 strengthened by 3.81%. However, the banking index closed with an increase of 7.84%

At 950 units after two months

It took two months for the market to return to pre-Russian levels in Ukraine and a big move from the low of 790 points in the first ten days of March. And this week’s message was stronger than the one given in the first weeks of April, as the turnover and the pre-agreed transactions showed that the buying interest has returned to Athens Avenue.

The ATHEX is now in the process of completely undoing the negative scenario, despite the many challenges that have emerged from developments worldwide. The long-term buying interest in levels that are no longer reminiscent of the war period in Eastern Europe confirms that the composition of the portfolios that remain in Athens Avenue is slightly better than we were accustomed to in previous years, when in the first twist the positions collapsed.

Although the decisive break of 950 points seemed to have some difficulties today, no one can ignore the fact that the ATHEX continues its upward trend unabated and autonomously. And a guide in this direction has several industries, showing the multifaceted upward movement, something we have had to see for many years.

In fact, as Elias Zacharakis of Fast Finance comments, the upward trend on the ATHEX has taken shape, surprising even the most optimistic. The foreign markets reacted, a fact that helps to a greater extent the Greek market that was already “set up” technically upwards.

According to him, we are actually aiming for the highs of the year with DG already recording gains of 6.5% for 2022, leaving behind the foreign markets around 16% since on average they still lose 10% of their value this year. The banking sector already has a 22% yield looking in turn for the highs of the year.

On the board

On the board now Lambda won 3.09%, while National, Alpha Bank, IPTO, Piraeus and Coca Cola narrowed their profits just over 2%. The increase in Aegean, OPAP, OTE, Quest, Viohalko, EYDAP, PPA and Jumbo was over 1%, while Mytilineos, Eurobank, Sarantis, ELHA, Motor Oil and PPC closed slightly higher.

On the other hand, Hellenic Petroleum closed with losses of 4.16% due to a dividend cut of 0.30 euros, with Terna Energy losing 2.14% and GEK Terna closing at -1.18%. Small losses for Ellaktoras, while Titan closed unchanged.