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From +1% to… -1.45% the Stock Market

Today’s session on the Athens Stock Exchange had two faces, which not only lost its morning gains of up to +1%, but finally closed below 860 units, as it received another “attack” by sellers.

In particular, the General Index closed with a fall of 1.45% at 855.70 points, while today it moved between 879.26 points (+1.27%) and 855.70 points (-1.45%). The turnover amounted to 53.23 million euros and the volume to 19.58 million pieces, while 18 thousand pieces were traded through pre-agreed transactions.

From +1% to... -1.45% the Stock Market

The high-cap index closed down 1.56%, at 2,060.53 points, while the Mid Cap closed at -0.39% at 1,358.05 points. The banking index closed down 1.67% at 553.01 points.

Although the ASE tried to react today, finding significant supports in the profits of Coca Cola in particular, after 13:00 the sellers reappeared and drastically changed the image and sentiment of the market. After all, until that time, buyers remained cautious, but they were dominant as sellers had not had their last word.

This came in the second half of the session, with pressures extending across most of the board. And as the certified analyst Petros Steriotis comments, while the mighty Central Bank of the USA seems to be leaving the usual cheap money policies in the closet of history, the foreign stock markets leave a bitter taste at the end of the summer calendar. The perception that even the slow-moving ECB will attempt to tame the index, starting with next week’s announcements, hits all assets, with those with higher betas showing the greatest sensitivity to economic cycle turbulence.

At the same time, the picture may be clouded, given that until tomorrow investors who follow the indices of the house MSCI, have room to take their positions both in terms of changes in stocks and weightings. It is recalled that we did not have any additions/deletions from the MSCI Greece Standard Index, however there are always some changes that bring side orders to the Greek index as well.

But what is conveyed by stock market sources to Capital.gr, is that perhaps this time the AXA will not have any share in the rebalancing carried out by the truck index funds, given that the trend of the last interval is more defensive positions. And in this “category” are not Greek assets, which operate in an economy that does not have an investment grade, thus excluding long funds placements.

On the dashboard

On the board now, Sarantis closed down 5.54%, with Alpha Bank following with -3.16%. The drop was over 2% in GEK Terna, OPAP, Motor Oil, Biohalco, PPC, Titan and Terna Energy, while over 1% in Aegean, Lambda, Mytilene, OTE, Hellenic Petroleum, Piraeus and Eurobank.

ADMIE, Jumbo, Ethniki, Ellactor and ELHA closed down slightly, with Quest closing unchanged. On the contrary, EYDAP and PPA closed with small gains, with Coca Cola’s rise limited to +1% in the end.

Source: Capital

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