The Athens Stock Exchange closed the second day of stabilization today, which did not manage to leave the zone of 820 points even today, in which it landed in the big drop on Monday.
In particular, the General Index closed with a fall of 0.21% to 822.15 points, while today it moved between 827.35 points (+ 0.42%) and 816.46 points (-0.92%). The turnover amounted to 67.64 million euros and the volume to 19.03 million units, while 1.35 million units were traded through pre-agreed transactions.
The index of high capitalization closed with a fall of 0.37%, at 1,976.74 points, while at -0.12% Mid Cap completed the transactions at 1,298.95 points. The banking index closed down 0.32% at 516.27 points.
High expectations for this week’s meetings may have been raised, but sellers have halted plans to improve valuations ahead of tomorrow’s first half of the year. In fact, they fix the General Index below 850 points, giving the “hot baton” of the downward trend in the next half of the year.
Of course, the buyers did not show that they can overcome their selectivity, but also their very short horizon, liquidating immediately with the slightest disturbance. There is also the optimistic reading of the semester, during which the ATHEX closes with fewer losses compared to the large European markets, whose decline is already in double digits. The main counter-argument to this, of course, is that the starting point for the fall of the European markets is the multi-year highs, in contrast to that of the Greek market, which was at the average of six years.
After all, in addition to international uncertainties, analysts’ estimates for the course of the economy are now negative, a scenario that if confirmed will affect the results of listed companies. The latest example was DBRS, which downgraded its estimates by now predicting that Greek GDP will grow by 3.9% this year and by 3.2% in 2023, from 4.3% and 3.4% forecast in March. and in its previous report on the international economic outlook.
But except for Greece, everything shows that growth this year will be marginal in Europe and America while it still takes time to show us how long interest rate hikes will last and how long high inflation will last. At the same time, the fall in bonds has very hastily discounted the increase, with the result that the yields have already started to become tempting, at least at this stage, something that can give them a serious upward breath.
On the dashboard
On the board now, Lambda, OPAP, Viohalko, Hellenic Petroleum and ELHA lost more than 2%, while over -1% was the fall in Eurobank, Aegean, Ethniki, Mytilineo, PPA and Coca Cola. Piraeus, Terna Energy, GEK Terna, Ellactor and Titan closed slightly lower.
On the other hand, Motor Oil closed with an increase of 3.12%, with Alpha Bank and PPC following with + 2.60% and + 2.33% respectively. EYDAP and OTE closed above + 1%, while IPTO, Quest and Jumbo closed slightly higher. Sarantis closed without change.
Second day of accumulation in the Stock Exchange
The Athens Stock Exchange closed the second day of stabilization today, which did not manage to leave the zone of 820 points even today, in which it landed in the big drop on Monday.
In particular, the General Index closed with a fall of 0.21% to 822.15 points, while today it moved between 827.35 points (+ 0.42%) and 816.46 points (-0.92%). The turnover amounted to 67.64 million euros and the volume to 19.03 million units, while 1.35 million units were traded through pre-agreed transactions.
The index of high capitalization closed with a fall of 0.37%, at 1,976.74 points, while at -0.12% Mid Cap completed the transactions at 1,298.95 points. The banking index closed down 0.32% at 516.27 points.
High expectations for this week’s meetings may have been raised, but sellers have halted plans to improve valuations ahead of tomorrow’s first half of the year. In fact, they fix the General Index below 850 points, giving the “hot baton” of the downward trend in the next half of the year.
Of course, the buyers did not show that they can overcome their selectivity, but also their very short horizon, liquidating immediately with the slightest disturbance. There is also the optimistic reading of the semester, during which the ATHEX closes with fewer losses compared to the large European markets, whose decline is already in double digits. The main counter-argument to this, of course, is that the starting point for the fall of the European markets is the multi-year highs, in contrast to that of the Greek market, which was at the average of six years.
After all, in addition to international uncertainties, analysts’ estimates for the course of the economy are now negative, a scenario that if confirmed will affect the results of listed companies. The latest example was DBRS, which downgraded its estimates by now predicting that Greek GDP will grow by 3.9% this year and by 3.2% in 2023, from 4.3% and 3.4% forecast in March. and in its previous report on the international economic outlook.
But except for Greece, everything shows that growth this year will be marginal in Europe and America while it still takes time to show us how long interest rate hikes will last and how long high inflation will last. At the same time, the fall in bonds has very hastily discounted the increase, with the result that the yields have already started to become tempting, at least at this stage, something that can give them a serious upward breath.
On the dashboard
On the board now, Lambda, OPAP, Viohalko, Hellenic Petroleum and ELHA lost more than 2%, while over -1% was the fall in Eurobank, Aegean, Ethniki, Mytilineo, PPA and Coca Cola. Piraeus, Terna Energy, GEK Terna, Ellactor and Titan closed slightly lower.
On the other hand, Motor Oil closed with an increase of 3.12%, with Alpha Bank and PPC following with + 2.60% and + 2.33% respectively. EYDAP and OTE closed above + 1%, while IPTO, Quest and Jumbo closed slightly higher. Sarantis closed without change.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
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