Stock market: New dip threatens all 850 units

The upheavals that dominate the international markets “touch” today the Athens Stock Exchange, which is moving with significant losses below 850 points, now confirming the most negative scenario in an environment with many obstacles.

In particular, the General Index records losses of 2.16% at 847.98 points, while the turnover is at 10 million euros and the volume at 4.5 million units. The FTSE 25 also fell 2.34% to 2,032.62 points, while the banking index lost 3.67% to 544.56 points.

Stock market: New dip threatens all 850 units

Today’s picture of the ATHEX was more or less expected, considering that the extent of the decline in large markets is reminiscent of the crash years of 2008 and 2009. Needless to say, a regional and shallow market, such as the Greek, can not to raise defenses in the global sell off that is taking place lately. It is indicative of the climate that the statistic wants the Dow Jones to have recorded five sessions with losses of more than 800 points since the beginning of the year.

The sharp turn of central banks from zero interest rates to successive increases to bring frantic inflation under control has sparked serious concerns about the risk that the world’s most advanced economies could slide into recession. The Greek economy may have developed a significant momentum in its upward course, but it will not be in the range estimated in the past, resulting in a significant rerating in the positions of most portfolios.

Thus, the ATHEX remains in a downward channel, as it technically keeps the way open for sliding to lower levels. Only if he resolutely crosses the zone of 865 – 870 units will he be able to see with greater demands the 890 and 900 units, otherwise the scenario towards 800 – 820 units is the one with the highest chances.

On the board

On the board now, National and Alpha Bank record losses of 4.3%, with Piraeus and Coca Cola following with -3.95% and -3.07%. Over 2% is the drop in ELHA, IPTO, Terna Energy, Jumbo, Mytilineos, Viohalko, Eurobank and PPC.

The fall in PPA, Lambda, Motor Oil, Titan, EYDAP, Hellenic Petroleum, GEK Terna and OPAP exceeds 1%, while Aegean, OTE, Quest and Sarantis are moving slightly down. Ellactor wins 0.12%.

Source: Capital

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