Slightly upward with a small turnover of the Stock Exchange

of Alexandra Tombra

The Athens Stock Exchange is moving slightly upwards today, in an attempt to undo yesterday’s correction and restore contact with the 900 units.

In particular, the General Index records an increase of 0.69% to 896.45 points, while the turnover is at 4 million euros and the volume at 2 million units. The FTSE 25 also recorded an increase of 0.97%, to 2,175.71 points, while the banking index gained 1.20% to 613.14 points.

After the (new) failure yesterday to penetrate 900 points, even closing in negative territory, the ATHEX seems to be cautious in taking greater risk. Of course, this is something that can be seen in most titles, which follow a more sideways movement.

An exception to the above seems to be the securities that showed their performance in the first quarter of the year, or are in the process of distributing dividends. Of course, the banking sector remains in the spotlight, which satisfied with its results. Euroxx has already stated that the industry has strong and attractive prospects, after the results of the first quarter and sees margins for the growth of their shares up to 86%, maintaining the overweight recommendation.

Nevertheless, the ATHEX seems to be going through a waiting period as it has been in a narrow range of fluctuations since the beginning of June, with a relatively low turnover. In fact, the moves seem to have a narrow horizon, with most analysts pointing to the European Central Bank as responsible for this picture.

After all, according to analysts, the ECB has lagged behind other G10 central banks in the policy normalization process and the rhetoric of its officials is becoming more aggressive in view of the June meeting.

On the board

On the board now, Sarantis gains 2.92%, with OPAP, Aegean, IPTO, Alpha Bank, Jumbo, Terna Energy, PPC, Eurobank and OTE following with gains of more than 1%.

Lambda, Motor Oil, Quest, Piraeus, Ethniki, Mytilineos, EYDAP and PPA are moving slightly upwards, while Titan, Coca Cola, GEK Terna and Ellactor are unchanged. On the other hand, the shares of Biochalco record small losses.