The siege of sellers on the Stock Exchange continues

of Alexandra Tombra

Continued losses today on the Athens stock exchange, which for the third session in a row is under the pressure of sellers and the negative international climate, now heading towards the test of the supports.

In particular, the General Index recorded losses of 0.79% at 884.41 units, while the turnover is at 3 million euros and the volume at 1.4 million pieces. The FTSE 25 also registered a fall of 0.92%, at 2,136.27 points, while the banking index lost 1.83% at 581.49 points.

The sellers’ siege continues today, with the broad index now breaking out of the 900-point zone and struggling to hold the 885-point support. And maintaining this alone is not easy, given that buyers have folded under the weight of international uncertainty.

As the column has pointed out in recent days, the AXA may have shown that it has resilience to international turbulence, these are clearly finite and in any case selective, given that the foci of uncertainty are very large. Thus, the AXA cannot mobilize orders that involve risk, when, for example, Europe is flirting with a (energy) crisis that can overturn many gains in the coming months, or the US is on the verge of aggressive tightening of monetary conditions. And in this pattern, one cannot overlook the slide of the euro against the dollar, which may make the shares of the zone cheaper for foreigners, but they should also factor in the values ​​affected by a depreciated currency.

This confirms the scenario that wants the market to remain in the range of the last five months, i.e. between 850 – 900 with minor exceptions, until there is a better perspective. A perspective that so far does not seem very optimistic, if one considers that the yield on the Greek ten-year bond is approaching 4%, from the 3% range it was in the first fortnight of August.

On the dashboard

On the board now, Aegean, Alpha Bank, Quest and Lambda are recording losses that exceed 2%, while Piraeus, Ethniki, PPC, Eurobank and Viohalko are down more than 1%.

Jumbo, Coca Cola, GEK Terna, OPAP, Motor Oil, ADMIE, OLP, Ellactor, Titan, Mytileneos and Terna Energy are moving slightly down, with ELHA and EYDAP not changing. On the other hand, OTE, Sarantis and Hellenic Petroleum recorded small profits.