Stock market: Small losses away from the day lows

With a controlled fall, the Athens market completed another session of intense volatility, during which it picked up the significant morning losses and moved to positive ground, but without being able to maintain its momentum.

Thus, the General Index closed the session at 825.16 points with a drop of 0.59%, far from the low of the day at 814.77 points (-1.81%), while at the high it had reached 831.94 (+ 0.23%).

However, the low turnover of 66.5 million euros, of which 6.2 in packages, is not suitable for drawing conclusions and rather shows that investors have kept a wait-and-see attitude, in view of geopolitical and other developments.

The FTSE 25 closed at 1,976 points with a fall of 0.87%, while the banking index fell slightly by 0.23% closing at 568 points, having deleted most of the losses that reached 3.41% (550.25 units).

Although slightly positively differentiated Greek market largely followed the general course of European indices, which started the sessions corrective but in the course of trading made up for the losses, especially since futures in the US went to positive territory.

As mentioned above, the DG temporarily moved to positive territory, receiving a boost from some blue chips and bank shares that recorded significant losses, however the sellers reappeared securing part of the profits of the session.

On the other hand, it is worth noting the significant easing in energy prices, with oil falling below $ 100 today for the first time since March 1 – and after jumping to the $ 140 mark last Monday, while European gas also shows a stabilizing trend in the region of 120 euros, thus easing some of the worries about further spurts of inflation.

In any case, the continuation will largely depend on the developments in Ukraine, where the Moscow-Kiev talks continue today to find a political solution, while on the other side of the Atlantic, the Fed announces monetary policy decisions tomorrow, almost given the first increase its interest rates from 2018, by 25 basis points.

At the technical level, today’s session did not change anything, with the market looking first at 857 points and then at 880 points, while in an upward trend we pass only over 900.

The image on the dashboard

Viohalko (6.11%), Elvalhalkor (5.76%) and TERNA Energeiaki (3.91%) tried to give impetus to the meeting, with PPA (2.685), GEK TERNA (1.9%) Piraeus Bank (1.88%) and EYDAP (1.2%) to follow.

On the contrary, the index-weighted share of OTE (-3.35%) received significant pressures, Lambda closed with losses of 2.58%, Jumbo with -2.38% and OPAP with -1.8%.

Except for Piraeus, the other banking securities after significant fluctuations closed with small losses, the NBG at -0.28%, Eurobank at -0.5% and Alpha at -0.77%.

Mytilineos and IPTO closed at -1.5%, MIG at -1.4%, PPC at -1.33% and Aegean at -0.97%.

In the medium capitalization, Cenergy closed with a strong rise of 3.4%, Olympic Technique strengthened by 2.86%, Profile completed at + 1.64%, Plastics Thrace at + 1.57% and Kri Kri at + 1.35%.

On the contrary, EYAPS plunged 3.03% and Intracom fell by 2.04%.

In all stocks, 57 closed lower, 43 uptrended and 54 remained unchanged.

M. Chachladakis