The Athens Stock Exchange closed with significant losses, which under the weight of certain index stocks and in a volatile environment due to low turnover, lost all 890 points, in a diametrically opposite closure from breakfast + 0.6%.
In particular, the General Index closed with losses of 1.19% at 887.96 points, while today it moved between 887.14 points (-1.28%) and 904.32 points (+ 0.63%). The turnover amounted to 44.4 million euros and the volume to 15.7 million units, while 0.67 million units were traded through pre-agreed transactions.
The large-cap index closed down 1.38% at 2,131.91 points, while Mid Cap closed at -0.45% at 1,487.28 points. The banking index closed with losses of 2.40% at 568.21 points.
Today’s meeting at the ATHEX had two faces, as from the beginning until about 13:30 the General Index reached 904 points, while from noon to the end its resistance to the sellers was bent, as a result of which even the 890 units. The first attempt of the market to recover the 900 units was not only unsuccessful, but finally triggered a mini wave of sellers that deprived the General Index of critical units.
Waiting for the central banks
However, apart from the market reversal in the zone of 890-900 points, the focus is firmly on the meetings of the Federal Reserve on Wednesday and the European Central Bank on Thursday, where the tone is expected to be given to the management of strong inflationary pressures. Now the pressures for action through the reduction of securities purchase programs are great, while it is clear that if Frankfurt decides, it will also affect Greece.
Of course, the ECB’s support to our country will continue only through the reinvestment program, ie the placement of funds from Greek bonds – as well as other bonds of Eurozone countries – which expire after March 2022 and at least until the end. of 2023, in other Greek titles. In any case, according to Capital.gr, and if and when it is judged that the market pressures are uncontrollable, the ECB will have in its quiver a remaining 100 billion euros from PEPP, which will reactivate, with emphasis in vulnerable markets, ie in Greece and possibly in Italy (due to possible political unrest).
Analysts insist positively
At the same time, foreign analysts continue to praise the performance of the Greek economy, with Deutsche Bank estimating growth of 8.7% this year. According to the estimates of the German bank, the two years 2022-2023 will be a period of also strong growth rates for the Greek economy, with the GDP growth being placed at 4.4% and 3.8% respectively, while the inflation in Greece is expected to jump in 2022 to 2.8% after 0.3% this year, but then following a downward trajectory and reaching 1.3% in 2023.
On the board
On the board now, Alpha Bank and Ethniki were at the center of liquidations, recording losses of 3.35% and 3.19% respectively, with Lambda, PPC and HELEX following with a drop of more than 2%. OPAP, Ellactor, Motor Oil, Piraeus, Hellenic Petroleum, Jumbo, Eurobank, Mytilineos and Sarantis closed above -1%.
GEK Terna, Coca Cola, PPA, Titan and IPTO closed slightly lower, with ELHA closing unchanged. On the other hand, Aegean jumped 3.47%, with Terna Energy and Viohalco finishing at + 1.04% and + 1% respectively. OTE and EYDAP closed slightly higher.