The banks react, the Athens stock market is positive

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The Athens Stock Exchange is currently trying to return above the levels of 850 points, but without showing that buyers will take advantage of the large drop in prices and will proceed with placements.

In particular, the General Index records gains of 0.80% at 858.05 points, while the turnover is at 8 million euros and the volume at 3 million units. The FTSE 25 also recorded an increase of 0.89%, to 2,059.37 points, while the banking index gained 2.31% to 553.25 points.

Although it is trying to re-understand the psychological level of 850 points, the ATHEX does not show that it has changed anything from the absolutely negative climate of the week that is ending today, with the end of the derivatives. And it has not changed, in fact, even with the fall of valuations to levels that are objectively attractive to long-term investors.

Thus, although the technical data seem to be in a position to react, such a thing does not appear on the horizon, capable of giving the signal that the downward trend is over. In order to be able to change the climate, the FTSE 25 must resolutely penetrate the zone of 2,090-2,095 units, while the general must make a big move above 870 units.

The most interesting graph, however, is in the banking sector, which has proven to be the weak link of the last few days on Athens Avenue. According to Fast Finance, if we look at the graph of the banking index in the last year, most of the volume has been in the range of 550-600 units, while it has recorded a low of 500 and a high of 750 units. Until May 30, we will definitely see outflows in Piraeus, Alpha Bank and Eurobank and inflows in Ethniki due to the changes in MSCI. The peak of the volume and the possible reversal of the graphs will be the 30th of the month. Immediately after we can see the National slowing down since the interest for it will decrease (it is the only one that keeps character) and we will probably see the others react.

On the board

On the board now, Alpha Bank records gains of 3.16%, with Eurobank, Piraeus and Viohalco following with an increase of more than 2%. Profits in Mytilineo, Quest, Coca Cola, ELHA and PPC are over 1%.

Jumbo, Terna Energeiaki, Lambda, EYDAP, Ethniki, IPTO, Ellactor, Titan and GEK Terna are moving slightly upwards, while Sarantis, OPAP and Aegean are moving slightly downwards. OTE corrects by 1.17% today and Hellenic Petroleum loses 1.32%.

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Source: Capital

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