In contact with the 900 units of the Stock Exchange

The Athens Stock Exchange is currently flirting with 900 points, which absorbs the morning pressures and tries to move higher, with the support of several securities that are in the focus of buyers.

In particular, the General Index records gains of 0.01% at 898.39 points, while the turnover is at 12.8 million euros and the volume at 4.5 million units. The FTSE 25 also recorded a fall of 0.01%, to 2,162.42 points, while the banking index gained 0.39% to 584.20 points.

Eventually the market seems to be able to continue its upward trend, although the steps are small and weak. Also, low trading volumes (approximately € 5 million net transaction value per hour) are not convincing for anything better, according to Loukas Papaioannou, Economist at Fast Finance.

According to him, despite the recent positive macroeconomic data, the problem of inconspicuous debt and the over-dependence of the economy on the ECB, securities repurchase and restructuring programs remain, making its structure vulnerable to the international environment. Thus, as long as these fears exist, the market remains trapped in a lateral movement, despite the positive news and the deals that are pregnant, not being able to go beyond it, trapped in low trading volumes.

Technical image

Technically, as long as the General Index remains below 900 points, the picture does not change. Any break in the level leads to the next feasible target of 910-915 points, while the 885-880 zone is the first recession and only weekly break in the zone leaves room for lower price levels.

The banking sector, despite its recent uptrend and closing the downtrend, has not yet overcome the resistance of 585 points. Respectively in the FTSE 25, the 2,163 and mainly the 2,180 units seem currently inaccessible with such trading volumes and only their weekly break changes the short-term picture, creating conditions for a re-approach of 2,235 units.

On the board

On the board now, Terna Energy, Ellactor and Sarantis record gains of more than 1%, while EYDAP, Titan, Eurobank, Alpha Bank, Coca Cola, Ethniki, Viohalko, Piraeus and GEK Terna move slightly higher.

On the other hand, losses below Jumbo, Motor Oil, Aegean, Lambda, Mytilineos, PPA, ELHA, OPAP, Hellenic Petroleum, OTE, HELEX and PPC have been reduced below 1%. IPTO is unchanged.