Strong reaction after the sell off in the Stock Exchange

LAST UPDATE: 14.57

The reaction after the sell off came today on the Athens stock exchange, which manages to see 870 points again, undoing almost 1/3 of Friday’s dive, while individual business developments, such as that of Ellaktoras, help rise.

In particular, the General Index records gains of 1.80% at 874.41 points, while the turnover is at 37.6 million euros and the volume at 16.8 million units. The FTSE 25 also recorded an increase of 1.89%, to 2,097.38 points, while the banking index gained 2.76% to 561.42 points.

The appearance of the new variant of Covid in European territories brought unprecedented cracks in the market, which will continue, as analysts estimate, until we see how the new situation can be managed. However, according to Eurobank Equities, any correction is a significant investment opportunity for the ATHEX. as the valuations of Greek shares are attractive and continue to be an impressive story.

For his part, Elias Zacharakis of Fast Finance emphasizes that the pandemic seems to need more time to cycle and unfortunately the data are coming out day by day. The fear of a new lockdown along with any side effects on the economies and combined with the high returns, especially in foreign markets, gave the result we saw last week. Of course, the memories from the fall of 2020 are close, which results in investors being more “flexible” in selling decisions.

Besides, as the Capital.gr Today, the government is awaiting scientific data on the new Omicron strain of the pandemic virus, in order to determine its next moves on the Covid-19 front, if required. Starting today, a series of meetings will begin to evaluate the latest data. Meetings that, anyway, have not stopped at the Maximos Palace during the last months.

The government is waiting, together with the experts, for the analysis of the profile of the new mutation, which will show whether new interventions will be required for a health-safe Christmas. And what remains as a fixed point on the horizon is the, in all tones, executive remarks that the country will not enter a new lockdown.

Dashboard

On the board now, Ellaktoras is moving with gains of 6.20%, after the latest developments in the Hellenic Capital Market Commission broadcast by Capital.gr, while Jumbo, Alpha Bank and Mytilineos are jumping over 3%. Profits in Ethniki, Viohalko, PPC, Titan, Piraeus and Sarantis exceed 2%.

The increase in OTE, OPAP, EYDAP, Eurobank, ELHA, Hellenic Petroleum and IPTO is over 1%, while Aegean, Terna Energy and Lambda are moving slightly upwards. The PPA is unchanged, while Motor Oil, Coca Cola and GEK Terna are slightly down.