Stock market: Uptrends with a look at 860 points

The Athens market started with a small lead of the buyers in the last session of the stock exchange week, as the investors continue to move cautiously in the environment of intense uncertainty with selective placements.

In particular, the General Index is moving at 858.52 points with a slight increase of 0.43%, the FTSE 25 is slightly stronger by 0.42% at 2,074 points, as well as the banking index which is at 615.9 points with + 0.49% .

The war in Ukraine always remains in the foreground, but without any development that will give direction to international markets.

On the contrary, as stagnation stabilized, oil prices returned to the $ 120 a barrel area where they remain today, while Putin’s statement that he would demand payments in rubles from “unfriendly countries” brought a new escalation of pressure on the price of gas. moves again over 110 euros.

Yesterday, the US market moved correctively with losses of more than 1% for all three indices as the new environment of rising interest rates is priced, while the voices of officials are increasing, referring to the need for a more aggressive approach by the Fed.

European indices also showed losses of more than 1%, while today they are looking for a direction with slightly upward trends.

In the same climate, the ATHEX yesterday came under strong pressure that brought DG below 850 points, but the activation of some buyers in the last hour of the session significantly reduced the losses.

In general, the week has been characterized by the low turnover that yesterday exceeded 60 million euros, mainly due to the overperformance of OPAP, indicating the waiting attitude of the market and the focus on selective moves, mainly on high capitalization.

In the technical picture nothing has changed in essence, with the upward target being initially in the zone of 870-880 units and then at 900, while respectively the close supports are at 840 units and then in the zone of 810.

On the board

The first markets are in Saranti which moves with + 2.57% and Lambda with + 1.56%, while Coca Cola is trying to react after the significant losses yesterday moving today to + 1.2%.

In banks, Alpha increased by 0.5%, Eurobank by 0.3% and NBG by 0.16%, while Piraeus showed small losses of 0.07%.

On the contrary, ELPE is at -1.54%, Titanas at -0.76% and PPA and Jumbo at -0.7%.

M. Chachladakis