Stock market: Index stocks set limits on the reaction

The energy sector finally proved to be the one that supported, even in the difficult time of caution, the reaction today on the Athens Stock Exchange, which, although moving with several fluctuations, managed to confirm the levels of 850 points, slightly closing the gap from the support that should hold at tomorrow’s closing of the week.

In particular, the General Index closed with gains of 0.30% at 854.62 points, while today it moved between 849.57 points (-0.30%) and 862.80 points (+ 1.26%). The turnover amounted to 87.08 million euros and the volume to 37.84 million units, while 500 xil were traded through pre-agreed transactions. pieces.

The index of high capitalization closed with a fall of 0.19%, at 2,055.40 points, while at + 1.56% Mid Cap completed the transactions at 1,505.65 points. The banking index closed with gains of 0.09% at 584.23 points.

Reaction with … measure

After three days of strong fall, the ATHEX managed to react today, although it did not give the message that something has changed, both due to its turnover and due to the range of its movement. Purchasing moves remained clearly cautious and selective, as the main reason for the three-day (and not only) dive has not been eliminated.

How much the situation between Russia and Ukraine affects the Greek listed companies can be seen both from the big fall of the market, and from the dip of securities that have an exhibition in the region. The move by Coca-Cola, which has lost almost 25% of its value in a week, is indicative, while today it announced that it is removing the guidance of the year, due to the great uncertainty caused by the situation in Ukraine.

Nightmare energy costs

And the effects do not stop at the level of securities, as the secondary turmoil of the conflict, such as the rise of oil to new multi-year highs, has heightened concerns about the extent of inflationary pressures caused by rising energy costs. What most domestic analysts point out is that the market will now have to take into account in its estimates and positions the large increase in energy costs that will gradually begin to appear in the balance sheets of most listed companies, especially those in the manufacturing sector. With oil near $ 120 a barrel and gas a breath away from € 200 a megawatt hour, no design could predict those levels.

Thus, what is now estimated in Athens Avenue is that firstly there should be an adjustment of estimates for earnings per share of 2022, clearly lower in many sectors due to rising production costs, and secondly how many listed companies can afford it. costs until prices normalize, most likely in the second half of the year. This should take into account the costs that consumers will have to bear, in an already rising inflationary environment.

On the board

On the board now, Hellenic Petroleum closed with a jump of 6.65%, with Sarantis following with + 5.67%. Motor Oil gained 4.59% and Mytilineos gained 4.20%, with Aegean limiting to + 3.48% at the end and ELHA strengthening by 3.35%. Over 2% was the increase in Piraeus, Terna Energy, Viohalko and Ellactor and over 1% in Titan, Quest and PPA.

GEK Terna, Eurobank, IPTO and EYDAP closed slightly higher, while Ethniki, Alpha Bank and Lambda decreased slightly. The losses in Jumbo and PPC exceeded 1%, while those in OPAP and OTE exceeded 2%. Coca Cola lost 3.56%.