Stock market: 0.96% increase with anemic turnover

The activation of buyers in the last hour gave a rhythm to the transactions and pushed the Athens market to the highs of the day, in a meeting that for the most part had selective movements in index titles in anticipation of a geopolitical catalyst.

In particular, the DG completed at 867.54 points with an increase of 0.96%, but with a small turnover again at 49.17 million euros, of which 1.3 million in packages. The FTSE 25 closed at 2,069.58 points with + 1.16%, while the banking star again rose 2.14% to 624 points.

In general, the risk-taking mood has receded again and caution is the hallmark of the day, which is also indicated by the consistently low turnover, which in the days when we had developments in the Ukrainian crisis comfortably exceeded 100 euros.

However, the movement on the international charts and especially on the European indices, which after the opening in the positive territory of Wall Street expanded their profits by more than + 1%, mobilized some buyers on the ATHEX with the meeting setting a pace in the last hour. bringing the closure to day highs.

Indicatively, in Germany the DAX was at + 1.12%, in France the CAC 40 at + 1.2% and the pan-European Stoxx 50 at + 1.26%.

Similarly, the US market after the downturn yesterday against the backdrop of the most aggressive tone adopted by J. Powell returned to positive territory today, with gains exceeding 200 points for the Dow Jones and 2% for the technologically weighted Nasdaq.

It is recalled that the US central banker said yesterday that the federal bank must move “quickly” to reduce excessively high inflation, stressing that if necessary it will proceed with higher than usual interest rate hikes.

There is also a new escalation of oil prices, which re-approached $ 120 a barrel this morning, although in the process investors secured part of the profits and prices went into negative territory.

At the technical level, the general index on the ATHEX is looking for the catalyst that will give it a boost to move to the level of 880 – 890 points, where the upward reaction that started at 788 points is completed.

Short-term support is limited to the range of 850-860 units, while long-term trend is reversed and rises above 900 units.

On the board

Bank securities and Titanas starred for another meeting and together with Mytilineos, OPAP and Coca Cola made up for OTE’s losses.

In particular, Alpha Bank finished at the top of 25ari + 3.54%, ETE at + 2.09%, Eurobank at 1.48%, while Piraeus also deleted the losses and closed at + 0.72%.

Coca Cola strengthened by 1.4% and regained the first place in the capitalization by OTE, which fell by 0.66%.

Titan expanded its uptrend with + 3.2%, Mytilineos closed at + 2.79%, Ellactor at + 2.12%, Jumbo at + 2.07%, ELPE at + 1.56% and OPAP at + 1.13%.

On the contrary, we had sales mainly in Quest which closed at -2.1%, in GEK TERNA with -1.1% and in PPC with -0.93%.

In the medium capitalization, Olympic Technique strengthened by 4.75%, Epsilon by 3.68% and Profile by 2.6%, while Kri Kri received significant pressures, which fell by 2.65%.

It is also worth noting the + 6.76% of Byte and the + 5.11% of Ideal.

Of the total shares, 53 were up, 42 were down and 59 were unchanged.

M. Chachladakis