Selective supports and retention of forces in the Stock Exchange

The rise that is recorded today by the Athens Stock Exchange is limited and selective, which, although it can not return to the support levels of 930 points, maintains its positive sign, against the nervousness.

In particular, the General Index records gains of 0.48% at 919.26 points, while the turnover is at 24.7 million euros and the volume at 10.4 million units. The FTSE 25 also recorded an increase of 0.54%, to 2,217.91 points, while the banking index gained 1.02% to 633.87 points.

The Stock Exchange has found specific support from both Ethniki and OPAP, OTE, Hellenic Petroleum and Mytilineos, which with their gravity manage to offset the pressures manifested in PPC, Viohalko, IPTO and Ellactor. In other words, the picture is so ambiguous in the market today, that there are many portfolios trying to take advantage of the improvement in valuations after the two-day fall that preceded.

With a look at international developments

In addition to the expected turmoil in the Greek market in recent days, the risk off foreign portfolios, the concerns about whether the Federal Reserve may affect the policy of the European Central Bank in the near future, was another cause for concern, given the support provided by the euro bank to greek assets.

On this front, however, JP Morgan reassures, as after the first quarter and the end of PEPP, it expects Greek bonds to outperform, as it believes that current yield levels will create more demand from real money investors, ie investors with long-term horizon, especially from Greece, as soon as volatility stabilizes.

At the same time, JP Morgan expects that a large part of the offer of Greek bonds, ie the issues issued by the Greek State recently, will be absorbed by the ECB under the PEPP program, thus effectively covering the “exits” of the country.

On the board

On the board now, Aegean and Ethniki record gains of 2.26% and 2% respectively, while over 1% is the rise in OPAP, OTE, Mytilineos and Hellenic Petroleum. ELHA, Alpha Bank, Piraeus, Lambda, PPA, Eurobank, Motor Oil, Sarantis, Titan and EYDAP are moving slightly upwards.

On the other hand, the losses in Ellactor, Jumbo, Viohalko and IPTO exceed 1%, while PPC, Terna Energy, Quest, GEK Terna and Coca Cola are moving slightly downwards.