Stock market: New losses brought a weekly drop of 2.29%

With the sellers at the helm, the Athens market ended the trading week as tomorrow’s domestic holiday encouraged the securing of short-term positions, while the total absence of a catalyst in the Ukraine war cut past profits.

In particular, the General Index completed the day low with losses of 1.38% at 843.11 points and a low turnover of 62.6 million euros, of which 7.8 million in packages, while at the weekly level the DG noted losses of 2.29%.

The FTSE 25 closed 1.4% lower at 2,036.94 points, as was the banking one, which fell 1.23% to 605.13 points.

For another day, the pattern was repeated that the DG wants to open at higher prices but can not continue, with investors securing part of the short-term profits, albeit with a low turnover again which indicates reluctance and a waiting attitude.

In this climate, only Lambda was saved from high capitalization and it with small gains at the close, as given that the Greek market will remain closed tomorrow due to the holiday of March 25, investors chose to limit the risk, for fear of caged at possibly at higher prices.

It is worth noting, however, that in the long run, however, international companies remain particularly positive about the prospects of the ATHEX, as after the overweight by HSBC yesterday, Goldman Sachs today reiterated its preference for Greek stocks in the emerging markets.

Specifically, Goldman maintains the target for the General Index at 1,175 points over a 12-month horizon, while it estimates that earnings per share of Greek listed companies will increase by 17.8% this year and by 21.5% in 2023, which is the highest growth throughout the emerging markets environment. The P / E of the Greek market is placed at 10x, while the dividend yield is placed at attractive levels of 3%.

On the international charts, European indices moved conservatively with sign exchanges and small fluctuations, while the US market shows clear trends of differentiation (rise above 0.5% for all three indices) confirming that Western sanctions in Moscow have a major impact on economies. of the Old Continent.

It is indicative that the VIX volatility index, also known as the “fear index” of Wall Street, has returned to lows of more than a month (22.61 points), specifically since February 10, several days before the Russian invasion.

The new rise in energy prices brings further aggravation to the climate, with oil stabilizing again in the region of 120 dollars, while the price of gas follows an upward trend again against the background of Putin’s demand for payments in rubles for the “non friendly countries “.

On the board

As mentioned above, Lambda was saved with a small increase of 0.74% and from there on in the high capitalization the “red” prevailed.

In banks, the EIB fell by 0.9%, Alpha Bank by 1.12%, Eurobank by 1.33% and Piraeus Bank by 1.8%.

Titanas and Viohalko gathered the most sales closing with -4.4% and -4.21% respectively, Sarantis recorded losses of 3.65%, Aegan 3.26%, EYDAP 2.74%, Coca Cola which accepted again pressures finishing at -2.18% and OTE at -1.8%.

PPC closed at -1.77%, GEK TERNA completed at -1.01%, ELPE at -1.68%, Mytilineos at -1.12%, while OPAP reduced the losses to -0.46 %.

TERNA Energeiaki and Motor Oil moved defensively, closing unchanged.

In the medium capitalization, Papoutsanis stood out at + 2.76%, Reds closed at + 2.86% but with minimal turnover, Fourlis strengthened by 0.95% and Technical Olympic by 0.7%.

On the other hand, Cenergy came under pressure for another session, closing at -4.69%, Briq fell by 2.87% and HELEX by 2.21%.

Of the total shares, 35 moved up, 63 fell and 56 remained unchanged.

M. Chachladakis