Stock Exchange: Hold the profit taking with ‘energy’ from TERNA

In a day with strong elements of securing profits, especially in the banks, in the aftermath of yesterday’s rally, the jump made by the titles of the GEK TERNA group kept losses at a completely controlled level.

In particular, the General Index completed at 884.7 points with a drop of 0.59% and a turnover of 72.5 million euros, of which 9.6 million in packages. The FTSE 25 fell 1.05%, closing at 2,139 points, while the protagonist of the banking days was at the center of sales and closed with a fall of 2.7% to 641 points.

The generalized profit taking climate in the European markets brought the DG up to 877.58 points (-1.39%), however the counterattack of the GEK TERNA group provided support from the beginning of the trading.

In addition, when the upgrade of moody’s banks was announced and the pressures in the sector were reduced, the DG moved for a while to positive ground (high of 891.74 points with + 0.20%) but the sellers came back quickly and expanded the lead. at the last hour of the meeting.

Even so, it is worth noting the positive differentiation of the ATHEX against European indices, both yesterday and today, as the DG initially outperformed the rise at a time when the European markets were cutting their profits and then significantly reduced the pressure.

Indicatively, at the close of the ATHEX, the DAX was at -1.6%, CAC 40 at -1.1% and the pan-European Stoxx 50 at -1.3%, while the US market was moving with downward trends (Nasdaq -0 , 14%, S&P 500 -0.3% and Dow Jones -0.2%).

In a similar context, it is noted that, as has been observed during the Ukrainian crisis, in the absence of any development, the turnover remained again at relatively low levels when yesterday it had reached 100 million euros, indicating a wait-and-see attitude and controlled movements.

Despite the current setback, banks are taken for granted that they will continue to lead, as almost every day continue the positive messages received from investment firms, which set their target prices at significantly higher levels than the current ones on the ATHEX board.

Finally, at a technical level, it is noted that short-term support has now become the level of 868 units, while within the existing trend the DG sees up to 920 units.

On the board

As mentioned above, GEK TERNA and TERNA Energeiaki starred in the meeting and closed at + 7.8% and + 6.33% respectively, while Aegean recorded an increase of 2.08% and Ellactor 1.94%.

Markets also came out in Saranti with + 1.38%, ELPE with + 1.24%, IPTO with + 1.11%, while PPC after a change of sign and strong fluctuations closed at + 0.39%.

On the contrary, the banking sector gathered the most sales, with Eurobank at -3.66%, Alpha at -2.61%, Piraeus at -2.07% and NBG at -1.77%.

The image was further burdened by the index titles of Coca Cola and OTE, as after the significant rise yesterday they both corrected today with -2.85% and -2.63% respectively.

Quest came under pressure with -2.2%, Mytilineos fell by 1.4% and OPAP by 0.83%.

In the middle capitalization, the rally of GEK TERNA attracted Intracat which closed with a jump of 3.24% and Avax with + 2.38%, while the technological Entersoft and Epsilon added 3.21% and 2.74% respectively.

On the contrary, Cenergy with -1.59% and Iktinos with 1.37% gathered the most sales.

In all stocks, 48 ​​closed higher against 54 lower, while 52 remained unchanged.

M. Chachladakis