Categories: Markets

Stock market: Controlled correction after the rally

Stock market: Controlled correction after the rally

As expected, investors in both Athens and Europe are making soft moves to secure profits, after yesterday’s jump in world markets in the wake of the positive signs from Ukraine.

In this climate, the General Index is moving at 884.84 points with losses of 0.58%, the FTSE 25 is down 0.972% and is at 2.1416 points, as is the banking index which is moving at 652 points with -1.02%.

Yesterday’s jump of 3.25% brought DG substantial to the level it had started the year (893.34), while it covered almost half of the losses due to war (high for 2022 at 971.09 points on 11/02), having recovered significantly from 789.66 points (8/03).

On the positive side of yesterday’s meeting are the increased turnover close to 100 million euros, as in the previous five it had not exceeded 65 million, but also the diffusion of liquidity in a number of securities, both high capitalization and medium.

It is noted that in the previous significant rises, the banking index was leading, while yesterday the high capitalization followed a parallel movement with the banks as a whole.

In any case, of course, the banks are taken for granted that they will continue to lead, as the positive messages received from investment houses continue almost every day, setting their target prices at significantly higher levels than the current ones on the board of Athens Avenue.

On the board

Aegean with + 2.84% and TERNA Energy at + 1.65% stand out in the first stage of the meeting, while EYDAP and IPTO move at + 0.7%.

On the contrary, Coca Cola corrects with -1.7% after yesterday’s rally, ELVALHALCOR moves at -1.8% and Mytilineos at -1.5%.

Controlled sales in banks after the overperformance yesterday, with Piraeus moving at -1%, NBG at -0.9% and Alpha and Eurobank at -0.8%.

M. Chachladakis

Source: Capital