Looking at the ECB, the ‘minor corrections’ in the Stock Exchange

The Athens Stock Exchange is wary today, although it allows the corrective moves after the strong recovery of the previous days, but it also expects the position of the ECB during today’s meeting.

In particular, the General Index records losses of 0.15% at 953.33 points, while the turnover is at 1.9 million euros and the volume at 1.1 million units. The FTSE 25 also fell 0.14% to 2,320.13 points, while the banking index lost 0.24% to 693.97 points.

The ATHEX is currently divided into two fronts. The first is to encapsulate part of the profits of the previous period, as it should also improve its liquidity. It is not insignificant that since the beginning of 2022, the general index has gained more than 5% and the banking jump almost 20%, with investors showing that they want to secure part of these profits in order to have the power to lead the market higher.

The second front is clearly that of the European Central Bank, which is meeting today. The focus is on the possible measures he may take, not necessarily today, in order to stem the rise in inflation, but also the support of Greek bonds after the end of the pandemic program (PEPP).

According to Bloomberg, in contrast to the tightening efforts of the US Federal Reserve and the Bank of England, which pushed investors to bet on such moves in the Eurozone, the members of the Governing Council of the ECB are focusing on the possible “normalization”, as they weigh the outlook for inflation to fall closer to the 2% target.

This is the background to today’s meeting of the Governing Council of the ECB, the first since its decision to close offshore markets in March and slow down the overall bond market this year. Any discussion of a future withdrawal of stimulus measures is likely to affect interest rate hikes along with the shrinking of the ECB’s balance sheet by 8.6 trillion. euro.

On the board

On the board now, Aegean records losses of 1.71%, with Alpha Bank, Titan, Coca Cola, Jumbo, Piraeus, Viohalko, Lambda, GEK Terna, Terna Energy, Motor Oil, PPA and Mytilineos following with a small drop.

On the other hand, Ellactor wins 1.96%, with OTE, Ethniki, EYDAP, Sarantis, Hellenic Petroleum, Eurobank, IPTO, ELHA, OPAP and PPC moving slightly higher. Quest is unchanged.