The Stock Exchange closed in 2021 with gains of over 10% – The ‘mediums’ shone

In the middle of the almost nine-month accumulation that marked the year that expired, the Athens Stock Exchange closed, which left faithful to the selective and short-term movements in 2021 with gains of over 10%, both in the General Index and in its main ones, but with much higher returns on titles that promise exceptional developments in the new year.

In particular, the General Index closed on Friday with gains of 0.29% at 893.34 points, while it moved between 890.89 points (+ 0.01%) and 894.04 points (+ 0.37%). The turnover amounted to 27.6 million euros and the volume to 9.7 million units, while 0.02 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 0.32%, at 2,148.86 points, while at + 0.28% Mid Cap completed the transactions at 1,491.91 points. The banking index closed with gains of 0.29% at 574.93 points.

At the level of the year, the General Index closed with gains of 10.42%, while the FTSE 25 strengthened by 11.07%. The increase in the banking index reached 10.77%, while that of the medium capitalization index reached 34.72%.

Extroversion is in demand

While the expectations raised in the first quarter of 2021 were that a year of strong returns has begun, both in terms of economy and in terms of business and capital market, eventually an accumulation that lasted nine months (1) landed many portfolios. In fact, even at the end of 2021, the stock market did not close the Long’s eyebrow even close to the highest point of the nine-month accumulation, remaining essentially in the middle of a range that afflicted the majority of investors and prevented even more from entering a lot. promising market.

The market did not even manage to react to the unprecedented storm of positive assessments of foreigners for the Greek economy, showing once again that it has structural weaknesses that prevent it from operating at a discount. And structural weaknesses that did not allow the ceiling of a six-year movement to be broken, with many ups and downs.

Of course, let us not forget that during the twelve months, about 4 billion euros were raised from the Greek capital market through capital increases (excluding CoCos) in the funds of the listed companies, while another 1.4 billion euros were added from the issues of the 7 listed companies. corporate bonds. Also, the representation of Greek companies in MSCI reached 6 companies compared to 3 last year, while there is a satisfactory queue of new issues that is directed to the Stock Exchange.

However, the Greek market is still considered attractive, in relation to the international ones, but it presents significant differences in the individual valuations. According to Beta Securities, the ratio of corporate profits to capitalization is 17 times, while with the adjustments of the extraordinary it is 14.7 times. Banks trade 0.53x their tangible net worth showing a 20% discount compared to the European average.

On the board

On the board now, Ellactor closed with gains of 3.92%, with Terna Energy following with + 2.11% and PPC, Viohalko, Ethniki, PPA, Mytilineos, Aegean and Titan closing with an increase of more than 1%. EYDAP, Piraeus, IPTO, OTE, Quest, ELHA, Alpha Bank and Lambda closed slightly higher.

On the other hand, Coca Cola lost 1.40%, with Eurobank, Jumbo, Motor Oil, GEK Terna, PPA and Hellenic Petroleum closing with small losses. Sarantis is unchanged.