The Stock Exchange ‘broke’ the 870 points

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The Athens Stock Exchange closed today with gains of over 870 points, but without giving the message of breaking a resistance that has plagued buyers since the second ten days of May.

In particular, the General Index closed with an increase of 1.15% to 873.37 points, while today it moved between 876.82 points (+ 1.55%) and 864.55 points (+ 0.13%). The turnover amounted to 69.50 million euros and the volume to 22.11 thousand units, while 296 thousand units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 1.32%, at 2,106.35 points, while at + 0.87% Mid Cap completed the transactions at 1,410.58 points. The banking index closed with gains of 1.73% at 584.69 points.

It may have closed above 870 points, after a week of efforts, but the ATHEX did not convince the ATHEX that this move signals the decisive break needed to reverse the downturn in the short term. Of course, buyers’ expectations were slightly improved, as from the beginning of the month we see the banking sector awake and trying to regain the lost ground of May. The reaction came from the moment the sector was found at 540 units, last Friday

However, the positive thing is that both the FTSE 25 and the banking index closed above 2,106 and 577 points respectively, giving daily buying today, but again the turnover was not satisfied with its height. In fact, it was the second day that the ATHEX turnover remained low, with many portfolios holding a restructuring stand in anticipation of changes in the MSCI indices. As a stock market source commented on, 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.

On the board

On the board now, Coca Cola and Lambda closed with gains of 3.14% and 3.06% respectively, with Piraeus, Jumbo, Ethniki and Mytilineo following with an increase of more than 2%. ELHA, Alpha Bank, OPAP, Terna Energy, Viohalco, PPC and Eurobank closed above + 1%.

Motor Oil, EYDAP, Titan and Hellenic Petroleum closed slightly higher, with Sarantis closing unchanged. On the other hand, Ellactor, PPA, GEK Terna, Aegean and OTE closed slightly lower, with IPTO finishing at -1.14% and Quest at -1.17%.


Source: Capital

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