Stock market: April earnings were crushed

of Alexandra Tombra

The Athens Stock Exchange closed a completely negative week today, which shook the profits of April, as the uncertainties caused by the conflict between Russia and Ukraine grew, threatening to affect the course of the economy throughout Europe.

In particular, the general index closed with a fall of 0.29% to 922.43 points, while today it moved between 931.12 points (+ 0.65%) and 919.05 points (-0.65%). The turnover amounted to 78.50 million euros and the volume to 24 million units, while 1.95 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 0.35%, at 2,236.54 points, while at -0.23% Mid Cap completed the transactions at 1,502.82 points. The banking index closed with losses of 1.15% at 644.77 points.

At month level, the rise of the general index was limited to 4.89% and the banking index to 0.27%, while the FTSE 25 gained 5.10%. In the week the negative report of the general was at -2.86%.

The ATHEX may have shown remarkable resilience in the international downturn for three weeks, but this week it ruined the April picture, as its gains were reduced to 3.7%.

However, in April the general index regained some of the gains of the year, which it had lost in the difficult month of March, when it made the big dive due to concerns about the war between Russia and Ukraine.

Of course, in any case, the April report can only be considered positive, given that the mix of young people internationally can be considered anything but supportive. High inflation rates, which are driven earlier by central bank interest rate hikes, but also the energy front shifting to a huge impact on all of Europe’s economies, are the two major concerns and deterrents for foreign buyers. .

Technically, the inability of the market today to recover the levels of 926 units, maintain the downward scenario in force. After all, after the hasty securing of the previous period’s profits on Wednesday, the risk-taking dispositions decreased sharply after the last decisions of Moscow for the countries that do not pay for their gas in rubles.

Thus, as Elias Zacharakis of Fast Finance notes, the gap with 931 points lasted as resistance, thus removing the scenario of short-term continuation of the rise. According to him, the maintenance of forces continues against the background of MSCI since as everything shows, Ethniki and Mytilineos do not make sense to be sold until the day of the inflows. Also, the war, the fall of the euro and inflation along with the future rise in interest rates are troubling the market that remains hesitant.

On the board

On the board now, Alpha Bank, Viohalko, GEK Terna, Terna Energy, Aegean, Ethniki and Mytilineos recorded losses of more than 1%, while Piraeus, Sarantis, ELHA, Eurobank, Motor Oil, Coca Cola, AD closed slightly lower. OPAP, Hellenic Petroleum and PPA.

Lambda, OTE and PPC closed slightly higher, while the increase in Titan, Jumbo, Ellactor and Quest was over 1%. EYDAP closed with gains of 2%.