The Athens Stock Exchange is moving steadily upwards, with the help of most index stocks, but it has dropped its trading activity to very low levels.
In particular, the General Index records gains of 1.39% at 875.45 points, while the turnover is at 28 million euros and the volume at 9 million units. The FTSE 25 also recorded an increase of 1.78%, to 2,115.90 points, while the banking index gained 2.08% to 586.75 points.
This is the second day that the turnover at the ATHEX remains low, with many portfolios waiting for the restructuring in view of the changes in the MSCI indices. And as a stock market source commented on Capital.gr, the market gives the impression of calm before the trading explosion that is expected to peak next Tuesday.
Until then, the climate remains fragile, despite the fact that the general index has remained in a narrow range lately. This is because the environment in which listed companies are called to operate is extremely difficult. As the European Central Bank said today, the effects of the war on energy prices, inflation and lower growth amplify risks to the Eurozone financial system and economy, especially in countries with high public debt, more expensive borrowing costs and less available income, such as Greece.
If even today it manages to break the resistance of 868 – 875 points, the ATHEX will remain in the pattern that follows from mid-April, which has called into question all the upward reactions that have preceded. Also, there should be no downward break of 850 – 845 units, as the way will be opened to 820 units.
On the board
On the board now, Piraeus, Lambda, OPAP, OTE, Ethniki and Jumbo record profits in excess of 2%, while over 1% is the rise in Mytilineo, Coca Cola, PPC, Eurobank and Biochalco.
Terna Energy, Titan, Motor Oil, PPA, Hellenic Petroleum, Sarantis and EYDAP are moving slightly upwards. On the other hand, GEK Terna, Ellactor, IPTO and Aegean are moving slightly downwards. Quest loses 1.56%.
Source: Capital
