Strong counterattack on the stock market led by banks

The Athens Stock Exchange seems to be finding a bulwark in the pressures, which after yesterday approached the critical support of 780 points today benefits from the strongly upward trends prevailing in the European markets and sees the General Index comfortably recovering 800 points receiving a strong boost from banks.

In particular, the DG is moving at 814.02 points with gains of 3.08%, the FTSE 25 is strengthening by 3.3% and is at 1,951 points, while as mentioned above the banking index is leading the rise with a jump of 5.6% to 546 points .

The issue of the Ukrainian crisis continues to be the focus of global investment, and although there is no prospect of de-escalation, international markets appear to be absorbing the downturn in recent days and stabilizing in the new conditions brought about by the military invasion.

Already yesterday, the main European indices tried to show a positive reaction, which, however, weakened over the course of the day, but today they counteract with strong gains exceeding 3%, giving a “signal” of strong growth in the Greek market.

It is characteristic that the German DAX makes a jump of more than 4%, as well as the Eurostoxx 50 which moves at 3.9%.

Thus, the General Index, which recorded strong losses of 3.9% yesterday, as it integrated the international losses of Monday with a one day difference due to a holiday, is moving today with a significant rise in which bank securities are leading and followed by high capitalization as a whole.

In any case, the pattern of intense volatility that characterizes the recent period is not expected to decline immediately, while the intense intraday trading that is observed intensifies the fluctuations.

On the board

Banks set the pace for the meeting with Alpha at + 7.3%, NBG, Eurobank and Piraeus are all strengthening above 5% and Quest is picking up some of the strong losses it recorded yesterday, moving to + 5.1%, with total high capitalization is in positive territory, with the exception of Coca Cola alone, which is down 0.9%.

M. Chachladakis