The shadow of the pandemic returns to the Stock Exchange

After yesterday’s upward “break”, the Athens stock market returned to the downward trajectory of concerns due to the new mutation of Covid 19, while the new package of measures is expected to stop the pandemic in the country.

In particular, the General Index records losses of 1.24% at 860.57 points, while the turnover is at 5.7 million euros and the volume at 2.8 million units. The FTSE 25 also fell 1.38% to 2,059.53 points, while the banking index lost 2.07% to 548.21 points.

It was more than clear that yesterday’s reaction to the ATHEX had weak foundations, given that concerns about the course of the pandemic remain strong. After all, the same is true in European markets, which return to negative territory after forecast by Moderna CEO Stefan Bancel that existing vaccines will be much less effective in treating the new coronavirus variant.

In accordance with Capital.gr, the developments around the “Omicron” strain of the pandemic virus is the new factor that enters the government discussions that take place at the Maximos Palace, on the way to the festive period of Christmas and New Year. Covid-19 data was at the heart of Monday’s regular meeting under the prime minister, as the key phrase “open economy and society” remains firmly on the horizon and is firmly repeated in public executives.

Now the general index is heading towards the big support of 853 points, the breakdown of which can lead directly to 830 points, also closing 8 months of accumulation within a limit of 100 points. Now it is testing the bottom of the accumulation again, and in the FTSE 25 the 2,050 points is support that a breakout can target in the zone of 1,985 points, while in the banking index, the breakdown of 583 points gave an exit, with 534 points being the next support that should react.

On the dashboard

On the board now, Alpha Bank records losses of 3.30%, with Mytilineo, Ellactor, Viohalko, Piraeus and HELEX following with a drop of more than 2%. More than 1% is the drop in Coca Cola, Motor Oil, IPTO, Lambda, Aegean, Ethniki, Terna Energy, OPAP and GEK Terna.

PPC, Hellenic Petroleum, Eurobank, PPA, ELHA, Titan, Jumbo, Sarantis and EYDAP are slightly down, while OTE is gaining 0.40% and is the only one in positive territory at FTSE 25.