PPC powers the Stock Exchange

LAST UPDATE: 15:43

Today, PPC provides significant supports to keep the levels of 840, although it cannot fully absorb the pressures of the sellers, as the majority of securities remain in negative territory.

In particular, the General Index recorded losses of 0.09% at 842.39 points, while the turnover is at 45.8 million euros and the volume at 17.3 million pieces. The FTSE 25 also fell by 0.21%, at 2,023.87 points, while the banking index lost 1.04% at 539.70 points.

Although the signs on the board are negative, the General Index is struggling to keep the levels of 840 units with the help of PPC. However, sellers are back after a “break” of just a few hours in today’s session.

As it was seen from the first minutes of trading, buyers remained cautious, with the positive sign attributed more to the absence of sell orders. The climate remains fragile and the uncertainties continue with such intensity that any move in Athens Street can be risky.

Moreover, it is no longer off the investment agenda to mark the discount in many titles in order to integrate the risks that exist from the looming energy crisis in Europe. And it may be that the Greek economy has shown some strength so far in its growth rate, but the estimates are not only positive.

In this context, Citigroup comes today and makes the investment climate even more difficult, stating that Greece, together with the Netherlands and Italy, are the countries that are most vulnerable – both on the fiscal front and on the energy front – and will benefit the least from the support measures of the E.U. for the energy market. All eyes are on the September 14 announcement by Commission chief Ursula von der Leyen on how the EU plans to cap electricity prices for consumers.

On the dashboard

On the board now, Ethniki, Jumbo, Quest, ADMIE and Alpha Bank are recording losses of more than 1%, while Sarantis, Eurobank, PPA, EYDAP, Motor Oil, Hellenic Petroleum, Terna Energy, OPAP, Ellaktor, Coca Cola are moving slightly lower and GEK Terna.

On the other hand, PPC gains 4.17%, with Biochalco and Aegean following with +1.78% and +1.01% respectively. ELHA, OTE, Titan, Piraeus and Lambda are moving slightly upwards. Mytileneos is unchanged.