For 6 days continuously in… red the Stock Exchange

Finally, the already five-day downward series of the Athens Stock Exchange did not seem enough to the sellers, who intervened after 15:00 and added another day to the negative face of the market, even canceling with a characteristic ease its profits up to that time, but also the “awakening” of the banking industry.

In particular, the General Index closed with losses of 0.07% at 909.99 points, while it moved between 909.79 points (-0.09%) and 919.80 points (+1.01). The turnover amounted to 306.1 million euros and the volume to 53.9 million units, while 1.9 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 0.05%, at 2,191.18 points, while at -0.17% Mid Cap completed the transactions at 1,509.52 points. The banking index closed with gains of 1.43% at 591.54 points.

The introduction of shares and the rebalancing in PPC was completed

Another meeting στη dedicated to PPC was today, as in addition to the introduction of new shares resulting from the capital increase, the movements peaked due to its inclusion in the MSCI Standard Index. However, what made a big impression on the board, apart from the turnover that reached PPC at 234 million euros (with 156 million being made at auctions), were also the large fluctuations of the share. In particular, the stock opened at -4.37%, to return in the middle of the session to + 0.38%, but eventually closed at -0.96% and 10.32 euros.

This move, in combination with the pressures received mainly by OTE, OPAP and Motor Oil, essentially “neutralized” the support given to the market, for most of the session, by the strong gains in Ethniki, Coca Cola and Eurobank. Although the former left a positive image, recovering from the five-day downtrend that deprived it of more than 8% of its value, it ended up much lower than the intra-conference highs.

The Stock Exchange remains “neutral” in positive assessments

However, apart from the market movements based on business developments, a picture that can in no way be characterized as problematic, the average assessment of analysts is that the Stock Exchange has not yet assessed the positive prospects seen by foreign analysts. Yesterday Morgan Stanley saw an upgrade of the Greek economy by Moody’s, while today UBS describes Greece as a growth champion.

Of course, according to analysts, we are expected to see how energy costs will affect the dynamics of the recovery, as increases in fuel and raw material prices create significant problems in the Consumer Price Index. And the fears are that they may affect the dynamic growth of the Greek economy, with the market clearly taking a more cautious stance.

Also, as several domestic analysts have pointed out in recent days, the market is not expected to take any greater risk at the moment, as the country is at the peak of the fourth wave of the pandemic with the increase in cases. Now that we are in the middle of November, looking at Christmas and the festive season, the question that mainly plagues traders and catering workers is whether they will be able to celebrate without anticipation and without taking new measures that will aggravate the already bad situation.

On the dashboard

On the board now, Ellactor and Motor Oil fell 2.31% and 2.19% respectively, with OTE, OPAP, Aegean, EYDAP, Hellenic Petroleum, ELHA and Saranti following with losses of more than 1%. PPC, Titan, Lambda, HELEX, Jumbo, IPTO and PPA closed slightly lower.

On the other hand, Ethniki strengthened by 2.99%, while Coca Cola, Eurobank and Terna Energeiaki framed it with profits that exceeded 1%. Piraeus, Alpha Bank, Mytilineos, GEK Terna and Viohalko closed slightly higher.