The geopolitical clouds in the Stock Exchange are increasing

LAST UPDATE: 15:35

The Athens Stock Exchange is now moving with significant losses, which not only lost its morning gains, but is now struggling to remain in the zone of 950 points, facing the caution fueled by geopolitical developments in Ukraine.

In particular, the General Index records losses of 0.77% at 948.58 points, while the turnover is at 36.2 million euros and the volume at 15.4 million units. The FTSE 25 also fell 0.83% to 2,318.63 points, while the banking index lost 0.76% to 723.42 points.

The cautiousness was present on the stock market today, even when the General Index reached 964 points, especially when the clouds returned to the relations between Russia and the West and the new reluctance as to whether there will finally be a meeting between US President Joe Biden, and his Russian counterpart, Vladimir Putin. The same picture is shown by European indicators, as the Kremlin’s clarification that “there is nothing definite” at the time of the Biden-Putin meeting, mitigated the initial optimism that the news had brought.

Technical image

However, what most domestic analysts advocate is that the Stock Exchange will show some resilience so as not to lose its positive technical image. As Aenaon Markets’ Apostolos Manthos points out, the short-term chart analysis of the FTSE / ASE Large Cap high capitalization index shows that it is trying to move above the local peak it had in January 2020, at 2,371 points, just before the health outbreak crisis.

Here the index uses as a base of attack of buyers the area that extends from 2,320 to 2,300 units. As long as this level remains steady at the close of the day, the effort to confirm the drilling of 2,371 units and move to the next target of 2,440 units or a + 4.3% from the current price levels will intensify (the analysis was written last Thursday morning). ). The sponsor of the upward movement is the Fibonacci simple moving average of 21 days.

On the board

On the board now, losses in Coca Cola and Jumbo reach 2.30% and 1.16% respectively, while over 1% is the fall in Viohalko, Aegean, OPAP, Alpha Bank, IPTO, Ethniki and Saranti.

EYDAP, Mytilineos, PPA, Ellactor, Eurobank, GEK Terna, Hellenic Petroleum, Titan, OTE, Terna Energy and Lambda are moving slightly downwards, while Motor Oil, PPC, Piraeus and ELHA are moving slightly upwards. Quest gains 2.02%.