Stock Exchange: Controlled movements after the rally

LAST UPDATE 10:55

The trading on the stock market shows mild fluctuations, selective positions and the expected securing of profits after yesterday’s rally, with the investment optimism being maintained internationally, although more moderately in anticipation of developments in the Ukrainian crisis.

In particular, the DG opened with an acquired speed from yesterday’s meeting, reaching 878.28 points (+ 0.72%), however, it quickly moved to negative ground and now moves to 867.44 points with a drop of 0.52% and a high turnover of 17 million.

Similarly, the high capitalization FTSE 25 is down 0.5% and stands at 2,093 points, while the banking index after the rally above 10% yesterday today is moving at -0.29 %% at 623 points.

Signs of further progress in the Ukraine-Russia talks, with the Financial Times even talking about a draft 15-point agreement between the two warring parties, brought strong excitement yesterday in the world markets with the ATHEX jumping more than 5.6% with the which recovered to 870 points, outperforming European indicators.

In the course of the day, the long-awaited decision to increase the Fed reference rate was announced, for the first time after 2018 and by 25 basis points as it was almost a given, but the surprise was in the guidance of the federal bank.

In particular, the Fed avoided a more aggressive move of greater growth under the weight of the geopolitical crisis that changed the global data, but “showed” that it will raise interest rates in each of the next six meetings this year, by 25 basis points. which means it will reach 1.9% by the end of the year.

The Fed’s aggressive approach seemed to “scare” Wall Street, which temporarily went into negative territory, but optimism about the Ukrainian prevailed with the key US indicators finally holding a new rally.

At the technical level, the ATHEX General Index easily passed yesterday the resistance of 857 points, which is now supported by short-term support, and sees the area of ​​880-890 points where the short-term upward reaction from 788 points is completed.

In any case, the market gives a buying signal only if it stabilizes above 900 units with significant volumes, therefore it needs attention and sobriety as it has increased chances of a possible bear market rally that it traps.

On the board

TERNA Energeiaki further expands its historical high with + 0.5%, Sarantis strengthens by 1.3% but with a few pieces, while buyers continue in OTE (+ 1.8%) and Eurobank (+1.4 %) by banks.

On the contrary, Alpha Bank is now moving with losses of 1.1%, Piraeus with -1.4% and NBG at -0.4%.

Investors secure part of the significant recent gains in Biochalco (-3.5%) and ELVALHALCOR (-2.5%), Quest falls by -2.4% and Mytilineos by 1.4%.

In the middle capitalization, Cenergy is under pressure and falls by 4.1%, while the Reds is moving at -2.97% but with a few pieces.

M. Chachladakis