Russian-Ukrainian tsunami hits European markets and Athens stock exchange

LAST UPDATE 11:45

A new wave of sell offs sweeps the markets in Europe and the Athens Stock Exchange, in the shadow of the conflicts between Ukraine and Russia, but also the severe sanctions imposed by the European Union against Russian activities, which will deal a huge blow to European activities. .

In particular, the General Index records losses of 4.06% at 889.56 points, while the turnover is at 30 million euros. The FTSE 25 also recorded a drop of 4.28%, to 2,160.91 points, while the banking index lost 6.5% to 652.54 points.

The markets, while trying to heal their wounds from the pandemic, were hit by war and in a size they did not expect a few days ago, comments Elias Zacharakis of Fast Finance, as well as the image in European markets is extremely negative. The German DAX is at 14,207 points, down 2.47%, the French CAC 40 is also down 3.1% and is trading at 6,643 points, as is the British FTSE 100, which is down 1.5% at 7,376 points.

This picture was more or less expected today, as a conflict like the Russian-Ukrainian one that brings about such extensions cannot leave large parts of European activity unaffected. We should not forget that a few days ago we were concerned about the size of inflation and at the same time the increase in interest rates, with the fact that it now burdens the economies even more.

The geopolitical risk, even after a war, is problematic, but if one looks at the statistics in all cases, after a short period of time, the markets are back on track.

Technically, the market tested the medium-term support in the area of ​​900 units, reminding that at these levels it has accumulated for almost a year. Essentially the 880-900 band is strong mid-term support, which he may test if not today in the coming days. FTSE 25 support is at 2,150 units.

On the board

Eurobank loses 7.23%, with Piraeus, Ethniki and Viohalco following with losses of more than 6% and Coca Cola and Alpha Bank with a fall of more than 5%. The fall of ELHA, GEK Terna, Mytilineo, Ellactor, Lambda, Aegean and Motor Oil exceeds 4%.

IPTO and PPA are down more than -3% and Titan, PPC, Terna Energy, EYDAP and Jumbo are moving above -2%. OPAP is at -1.79%, OTE at -1.20% and Quest at -1%. Sarantis is unchanged.