The Athens Stock Exchange closed today with significant losses, completing a semester that, while it started with the best conditions, finally closed just 22 points above the lowest levels.
In particular, the general index closed with a fall of 1.43% to 810.42 points, while today it moved between 820.27 points (-0.23%) and 810.04 points (-1.47%). The turnover amounted to 76.97 million euros and the volume to 30.12 million units, while 737 thousand units were traded through pre-agreed transactions.
The large-cap index closed down 1.73% at 1,942.64 points, while Mid Cap closed at 1.76% at 1,276.08 points. The banking index closed down 3.58% at 497.78 points.
Even today, the ATHEX did not manage to show any reaction and close the gap of the fall in the semester, with the general index finally closing with losses of 9.28%, the FTSE 25 losing 9.60% and the banking index losing. more than 13.4%. The report on the medium capitalization index was also extremely negative, losing by 14.47%.
What is even more negative, however, is that although the general index was at 973.27 points on February 16, as soon as the Russian war in Ukraine started until today, it made two dives, with a small upward break in the middle. Finally, the end of the first half of a year that started with expectations brought the general index just a few points above the lows of the semester, ie the 788.83 points in which it was on March 8.
Buyers are selective in the end
However, according to El. Zacharakis of Fast Finance, in recent years the market proves that it is not the DG that matters, but the choice of companies. Whoever tried to win based on DG, this has been impossible for at least the last 22 years.
At the same time, according to certified analyst Petros Steriotis, while the deflated value of money is declining, investors are urged to take advantage of high volatility and protect their liquidity in order to ensure alpha, ie overperformance of their portfolios compared to the General Index. In declining phases of the Market, such as the current one, the divestment and the stop-loss orders often confirm the stock market “cash is king”, which the stock market professionals always have in the back of their minds.
At the same time, the yield, ie the cost of new issues of ten-year Greek government borrowing, which recently approached the psychological threshold of 5%, shows signs of calming down from the ECB’s statements that it will prevent the spread of spreads and consequently a new crisis in the markets. European Southern securities. However, for listed companies, the rise in interest costs raises the bar for gross corporate profitability targets in order to service the repayment of new bond issues.
On the board now, Alpha Bank lost 4.19%, with National, Jumbo, Aegean and Eurobank following with a fall of more than 3%. Lambda, Motor Oil, Piraeus, IPTO, ELHA and EYDAP closed more than -2% and more than 1% in OPAP, Sarantis and Mytilineos.
Coca Cola, PPA and PPC closed slightly lower, while Quest and Ellactor closed unchanged. On the other hand, Terna Energeiaki, GEK Terna, OTE, Hellenic Petroleum and Titan closed slightly higher, with Viohalko closing at + 1.06%.