Pressures are increasing on the Stock Exchange

LAST UPDATE: 12:27

Once again, the attempt at the Athens Stock Exchange to break through its resistances falls in the void, with buyers folding again leaving “space” for sell orders to prevail.

In particular, the General Index recorded losses of 0.19% at 801.78 points, while the turnover is at 12.2 million euros and the volume at 4.7 million pieces. The FTSE 25 also fell by 0.12%, at 1,920.37 points, while the banking index lost 0.96% at 462.63 points.

The pressures on specific titles and with low turnover is the picture that now prevails in Athens Street, with the General Index again folding after the morning “visit” to 808 units. While it has some supports, they do not appear to be capable of driving the market higher, a move it needs in order not to undo its recent uptrend.

Of course, expectations were very low for the strength of the morning’s movement, as traders remain extremely cautious about where they position themselves and what risk they add to their portfolios, given that the degree of uncertainty is very high.

However, what dominates investor circles very strongly in recent days, although it will be the talk of the town almost throughout 2022, is the energy costs that businesses and consumers are required to pay. And the situation may have been looking negative up until now in any case, but the latest developments with the maintenance shutdown of Nord Stream has clouded the landscape for the rest of the year as well.

Also, even if Greece manages to manage the dreaded energy crisis, due to the mix of its production, the situation in Europe cannot leave the policy of the European Central Bank unaffected. And all this while the euro is at its lowest levels in the last 20 years, constantly pouring water into the mill of inflation. So in such an environment it is difficult for the ECB to keep its monetary policy loose, something Greece needs.

On the dashboard

On the board now, ADMIE, Terna Energy and Motor Oil are recording losses exceeding 2%, while Alpha Bank, Jumbo, Titan, Eurobank and Lambda are moving above -1%. Quest, Aegean, Hellenic Petroleum, Ethniki, Sarantis, Mytileneos, Viohalko and Ellactor are moving slightly lower.

On the other hand, gains in OPAP, EYDAP, PPA and PPC exceed 1%, while OTE, Piraeus, Coca Cola and GEK Terna move slightly upwards. ELHA is unchanged.