Stock Exchange: All 850 units were lost

Coca Cola may have tried to provide support, but the Athens Stock Exchange failed to absorb the pressures that manifested itself especially in the banking sector, eventually losing the levels of 850 points.

In particular, the general index closed with a fall of 1.88% to 846.46 points, while today it moved between 859.41 points (-0.38%) and 844.53 points (-2.10%). The turnover amounted to 103 million euros and the volume to 45.57 thousand units, while 2.86 million units were traded through pre-agreed transactions.

The large-cap index closed down 1.94% at 2,031.99 points, while Mid Cap closed at -2.95% at 1,369.34 points. The banking index closed with losses of 4.33% at 546.44 points.

The 850 units on the ATHEX did not last even six hours, as after 16:00 the sellers tried and broke down this level as well. Now the way is opened to the 820 units, the last bastion before the 800 units are tested, on the “altar” of international uncertainty.

The only support of the ATHEX today is Coca Cola, which despite its gravity was not enough to maintain the level, which was trying for three days to become the basis of the long. The corporate results announced today are unable to hold the market even slightly better than expected, as the clouds around the global economy remain.

What is pointed out by domestic analysts is that there is a prevailing fear about how long the global sell off will last and whether it will affect the Greek market. Therefore, purchasing power is exhausted either in the correction of portfolio valuations or in shorter or intraday movements.

Of course, as a stock market source in Capital.gr comments, the fact that the international climate is so negative is not the only reason for the weakness of the Greek market. But the fact that international developments have created significant obstacles to accelerate the recovery of the Greek economy is one of the main reasons for the weakness of the Greek market.

In fact, we will see the above in the results of listed companies in the coming quarters, and in any case in 2022, as energy costs, reduced demand and reduced confidence, will have a negative impact on business. Thus, while in the previous months the market was positioned based on the estimates for better profitability of the listed companies, now the portfolios will have to adjust to a perspective of lower performance.

On the board

On the board now, Sarantis, Lambda and Alpha Bank lost more than 5%, with ELHA, Titan and Piraeus losing more than 4%. Over 3% was the drop in Ethniki, Eurobank, Biochalko, Aegean and PPC and over 2% in Quest and Terna Energy.

Losses in Mytilineo, GEK Terna, OPAP, IPTO and Hellenic Petroleum exceeded 1%, while OTE, Ellactor and PPA closed slightly lower. Motor Oil and EYDAP closed unchanged, with Jumbo on the other hand gaining 0.56% and Coca Cola jumping 4.87%.