Stock market caution

Profits on the Athens Stock Exchange, which failed to keep in touch with 870 points, have been significantly reduced, as fears for the next day of the economy intensify, with inflation soaring and growth at lower rates.

In particular, the General Index records gains of 0.34% at 862.06 points, while the turnover is at 42 million euros and the volume at 15 million units. The FTSE 25 rose 0.59% to 2,079.88 points, while the banking index fell 0.27% to 576.77 points.

JP Morgan may have once again given a vote of confidence to Greek banks, but the sellers on the board have a different view, now putting pressure on the industry. Of course, the general index has some support from heavyweights, such as Coca Cola, but it can not hold the upward momentum that showed in the first hours of the session.

This is because the degree of risk has now risen sharply, with the Greek ten-year bond now approaching even the 3.6% zone, indicative of the folding of many funds into safer assets. As the certified analyst Petros Steriotis points out today, persistently high inflation measurements in the Eurozone increase market estimates for a rise in intervention rates to positive ground, which has a strong negative impact on Greek government and corporate bonds and to domestic consumers and businesses.

According to him, the continuing concerns about the “abnormal landing” of global growth, which have led the Nasdaq to a one-year low, could not leave the ATHEX unaffected, with the DG moving to a low of “just” 6 weeks. Unfortunate is the international situation for Athens Avenue, which could not fully capitalize on positive catalysts, such as the remarkable announcements of profitability and dividends from several listed companies, the inflows due to the long-awaited changes in the MSCI indices and the optimism for its dynamics.

On the board

On the board now Jumbo and Coca Cola record gains of 2.8%, with Titan, Hellenic Petroleum, Sarantis, OPAP, PPC and EYDAP following with an increase of more than 1%. OTE, IPTO and Alpha Bank are moving slightly upwards.

On the other hand, PPA and GEK Terna record losses of 2.56% and 2.12% respectively, while over 1% is the fall in Terna Energy, Quest, Lambda, Piraeus and Ellactor. Mytilineos, Motor Oil, Eurobank and Ethniki are moving slightly downwards, with ELHA, Viohalko and Aegean having no sign.