The Stock Exchange also finds support for the 950 units

The Athens Stock Exchange is moving slightly upwards in the zone of 950 points today, which is heading towards the third consecutive upward session and again to the highs of the seven-year period, but without missing the securing moves of the previous period.

In particular, the General Index records gains of 0.46% at 952.27 points, while the turnover is at 8.1 million euros and the volume at 3.8 million units. The FTSE 25 also recorded an increase of 0.53%, to 2,317.14 points, while the banking index gained 0.51% to 692.31 points.

The market may see the mini rally recorded by the ATHEX from the low of 911 points on January 25, but in a slightly larger picture, the Greek market has recorded a strong start to the year. It is indicative that since the beginning of 2022, the general index has gained more than 5% and the banking jump almost 20%, with buyers showing that they have the strength to lead the market higher.

And this behavior may not be accompanied by a development that drastically changed the outlook for the capital market, but as several domestic analysts point out, it was an increase that “owed” the ATHEX to those who endured the multi-month accumulation of 2021. After all, as noted earlier by technical analysts, usually the beginning of a bull market is usually preceded by a period of accumulation that gradually narrows and the range.

Now the focus is on tomorrow’s meeting of the European Central Bank, where the problem of inflation is expected to prevail. The intentions of the Central Bank regarding the measures it is going to take in order to stop the rise of inflation, as well as the support of Greek bonds after the end of the pandemic program (PEPP) will be seen there. The first signal given in December was positive, as Christine Lagarde confirmed the vote of confidence in the Greek debt. However, the markets will want the confirmation of this signal, in order to continue to trust the Greek assets.

Dashboard

On the board now, Viohalko, PPC and Lambda are leading the rise with gains of more than 2%, with Eurobank and ELHA following with + 1.68% and + 1.23% respectively. OTE, Coca Cola, Hellenic Petroleum, Ellactor, Terna Energy, Mytilineos, Piraeus, Jumbo, Aegean, Alpha Bank and Sarantis are moving slightly upwards.

On the other hand, EYDAP, Ethniki, Titan, OPAP, Quest and PPA are moving in negative territory, but none of them is moving with losses of more than 1%, with IPTO, GEK Terna and Motor Oil having no change.