In the end, the Stock Exchange collected the losses

The Athens Stock Exchange closed with small losses, leaving the week’s profits almost intact at 1.4%, as against the fall of most of its securities it found significant support in the “duo” of PPC and Eurobank.

In particular, the general index closed with losses of 0.19% at 906.85 points, while today it moved between 899.03 points (-1.06%) and 910.29 points (+ 0.19%). The turnover amounted to 68.1 million euros and the volume to 26.5 million units, while 0.7 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 0.22%, at 2,195.70 points, while at + 0.36% Mid Cap completed the transactions at 1,462.72 points. The banking index closed with gains of 0.28% at 601.99 points.

At the weekly level, the general index closed with gains of 0.97%, while the FTSE 25 strengthened by 1.12%. The rise in the banking index reached 3.56%.

The return of Greece on the map of international investments

The great success of the over-coverage of the increase of the share capital of PPC is another serious writing sample for the strong interest that exists from abroad for investments in Greece, according to M. Hatzidakis of Beta Securities. The initial size of the increase of 750 million euros was adjusted to 1.35 billion euros and the demand was covered almost 3.5 times, setting even higher the capital raising bar for projects of this size.

At the same time, the board has already distanced itself from the price increase, giving a picture of “stock market confidence” in the absorption of supply after the listing of new shares (November 16). The success of PPC gives the baton to the next domestic venture to raise capital from international markets with a significant advantage, having significantly upgraded the interest in Greek risk.

Looking further, the Hellenic Stock Exchange made 3×3 in 2021 in increases that can be considered anything but simple (3.5 billion euros), mobilized forces that have been market observers for a long time and brought new names of investment funds to the table. The Greek market was re-established through these ventures in international first-class investment funds in the best possible way and this is the big profit of the year and an important legacy for the next one.

2022 has already acquired the character of a year of results as the fulfillment of the promises in the investment plans that accompanied the relevant capital increases will be in the forefront of focus by the investment community in the coming months.

The technical image

Technically, the General Index was left in a narrow range of movement that was limited to just 11 points per week. The low volatility also limited the trading activity, which was also affected by the period in which the Public Offer of PPC shares ran. Graphically, the big picture of the General Index did not change, the drag on the line of 900 points did not change the trends, which remained bought.

In individual indicators, the banker is interested in his behavior at current levels, having recovered trading levels of five months (Note from Alpha Bank AMK) and comes with escape claims to the next peak that coincides with the period of Piraeus Bank AMK. having the main helpers of the rise in the index the shares of Eurobank and NBG.

It is very likely that the 930 points that are the strong short-term price resistance will “fall” with the help of the banking index, which has now taken on the role of market leader after the fatigue observed in the commercial securities.

Although the distance separating the General Index is not large (. 3%) from this resistance, its break-up requires a particularly intense trading volume and greater participation of index stocks in the rise. At the moment we would expect the market to test the levels around the resistance, a scenario which has the chances on their side next week, concludes Mr. Hatzidakis.

Dashboard

On the board now, Mytilineos, Terna Energy, Titan, Piraeus, HELEX, GEK Terna and OPAP closed with losses exceeding 1%, while Coca Cola, Motor Oil, Alpha Bank, Lambda closed slightly down , Sarantis, PPA, OTE, Viohalko, Ellactor and ELHA.

On the other hand, PPC stood out with the + 3.63% it recorded, but also the almost 24 million turnover, while EYDAP and Eurobank closed with gains of 1.84% and 1.66% respectively. Aegean, Jumbo and Ethniki closed slightly higher, with IPTO and Hellenic Petroleum closing unchanged.