Stock market up with asterisks

For the first time in July, the Athens stock exchange finds its way back to 820 units, as banks and PPC lead the strong rise recorded at this time, with improved turnover.

In particular, the General Index registers gains of 1.50% at 818.31 units, while the turnover is at 21 million euros and the volume at 8.6 million pieces. An increase of 1.75% was recorded by the FTSE 25, at 1,955.83 points, while the banking index gained 3.30% at 477.74 points.

Although trading started with some caution today, gradually there were significant buying movements, leading even to 821 units. Of course, the climate is not favorable for the market to get the momentum it needs, having several turbulences, but the bet of the upward escape seems to be winning in the present.

This bet will have been won only if today’s rise is accompanied by an increase in turnover, at least at levels that do not resemble the meager balance of the previous two days. According to Fast Finance, in the first phase we have 821 units as a close resistance with next levels 830 and the big one at 845-850 units. The supports are at 811 and 807 units.

But the market is also supported by the improved international climate, due to information that the Russian-German natural gas pipeline Nord Stream will reopen after scheduled maintenance work, at least according to the claims of Russian state officials and Russian energy giant Gazprom. In addition, investor sentiment is being boosted by reports that Russia and Ukraine are nearing an agreement to end the latter’s grain export embargo.

Dashboard

On the board now, PPC and Piraeus are recording gains of 5.69% and 5.54% respectively, with Alpha Bank at +4.70% and Mytileneos, GEK Terna and Ethniki following with an increase of over 3% . ADMIE is at +2.19%, while Hellenic Petroleum, Aegean, Eurobank, Lambda, Viohalco and Quest are posting gains of over 1%.

Motor Oil, OPAP, OTE, Titan, Jumbo, EYDAP and Terna Energy are moving slightly upward, while on the opposite side, ELHA, PPA, Ellaktor and Coca Cola are moving slightly downward. Sarantis loses 1.04%.