The Athens Stock Exchange continues today with corrections

The Athens Stock Exchange is still declining today, as it receives significant pressure from both PPC and the banking sector, whose shares are now “pushing” the general index towards the support of 910 points.

In particular, the General Index records losses of 0.50% at 913.51 points, while the turnover is at 2.1 million euros and the volume at 0.7 million units. The FTSE 25 is down 0.56% at 2,200.30 points, while the banking index is down 0.83% at 592.41 points.

The market seems to be choosing the last two days to encapsulate part of its profits, in order to take more initiatives when it will have a clear picture of the decisions of MSCI to restructure its indices today at midnight. In this effort, however, he does not seem to want to try the first support of 910 units, the breakdown of which will lead to 900 units and the levels that were in the first days of November.

PPC’s correction, which showed its weakness at the level of 11 euros, as well as the “attitude” recorded by the banking sector since Monday, has clearly contributed to this picture. The sector failed to hold the level of 600 units, breaking the first support of 595 units, with the next now being at 585 units.

Looking at the economy

The market is clearly awaiting the Commission’s new revised forecasts, which will be announced today and for which expectations have been raised that they will be adjusted upwards. Estimates so far indicate that the European Commission will proceed with a significant revision for the development of Greece for 2021, from the 4.3% forecast last May to 6.1%.

However, the market, like the government, does not hide its concern about the rising prices of energy products, along with the new outbreak of the pandemic. Already imported energy inflation increased the Consumer Price Index to 3.4% in October, from -2% in January and -1.8% in October 2020.

On the dashboard

On the board now, PPC loses 3.27%, with PPA, Ethniki, Eurobank, Hellenic Petroleum and EYDAP following with losses of more than 1%. Sarantis, OPAP, Piraeus, Viohalko, OTE, Alpha Bank, ELHA, Terna Energy and GEK Terna are moving slightly downwards.

On the other hand, Aegean and Mytilineos recorded gains of 1.37% and 1.19% respectively, with Motor Oil, Titan, Jumbo, IPTO and Lambda following with a small increase. HELEX, Coca Cola and Ellactor are still unchanged.