Sellers dominate the Stock Exchange

The Athens stock exchange has been moving steadily below 800 units for the last three hours, which, no matter how much it tried to keep the psychological limit, the pressures especially in the banking sector are strong to absorb them.

In particular, the General Index registers a drop of 1.17% to 796.14 units, while the turnover is at 35 million euros and the volume at 15.8 million pieces. Losses of 1.40% were recorded by the FTSE 25, at 1,901.14 points, while the banking index fell by 3.27% at 471.05 points.

Recession fears due to aggressive tightening, persistent inflationary pressures, and the risk of early elections have created a difficult mix in the Greek market, which does not allow purchasing power to take initiatives, even at these lowest levels of this year. As much as the valuations are attractive, when the prospects look cloudy, the buyers will not be able to unfold their strategies, says a stock market source at Capital.gr.

Thus, the domestic economic environment, despite the recovery of business agreements and the intensity of the rumors on the front of acquisitions and mergers, does not seem to move the Stock Exchange which is under the constant influence of the international factor and also of the rhetoric which has recently gained a dominant position in the news.

If you add to the above mix the great uncertainties that exist in the last months in the international markets, then one can easily understand why the AXA was not able to change the level this year and recover the 1,000 units after many years, as the market initially hoped. And even more worryingly, the outlook for the rest of the year is even bleaker, especially as winter sets in and Europe risks experiencing an energy crisis of unprecedented intensity.

On the dashboard

On the board now, Eurobank, Piraeus and GEK Terna are down more than 4%, with Alpha Bank at -3.42% and ELHA at -2.23%. Above 1% is the drop in PPA, Mytilineo, OPAP, EYDAP, Motor Oil, Ethniki, Biohalco, Quest and Lambda.

Jumbo, Terna Energy, Hellenic Petroleum, ADMIE, Sarantis, Titan, Aegean and PPC are moving slightly lower, with Ellaktor not changing. On the other hand, small profits of 0.4% were recorded by OTE and Coca Cola.