The Stock Exchange closed with small losses

The Athens Stock Exchange took a step back in the recovery effort today, which, although it made some defenses, in the end succumbed to the sellers who made their presence felt throughout the board and especially in index-weighted securities.

In particular, the General Index closed with losses of 0.10% at 878.34 points, while it moved between 874.46 points (-0.54%) and 883.08 points (+ 0.44%). The turnover amounted to 52.8 million euros and the volume to 24.4 million units, while 4.1 million units were traded through pre-agreed transactions. The focus was on the package with almost 3% of the total shares of OLTH, at the price of 26 euros per share. The package had a total volume of 299,855 pieces and its value amounted to 7.79 million euros.

The index of high capitalization closed with a fall of 0.03%, at 2,110.68 points, while at -1.30% Mid Cap completed the transactions at 1,476.56 points. The banking index closed with losses of 1.16% at 563.81 points.

It failed to improve the technical image

The General Index may theoretically have recovered from the lows of 857 points found on November 26, but its technical picture has not improved, when in fact the banking index does not give the signal to undo the downward scenario that opened with its appearance. Covid’s Micron mutation 19.

However, according to Fast Finance, for better or worse, the market, even in the short term, is tied to foreign markets. An occasion must be found to change level and approach even larger funds. The only sure thing is that growth will run at a significantly faster pace than other countries while it has a lot of news ahead.

Business news is a given in the near future, while macroeconomics also support a positive development. What is observed here is that funds that were inactive are now entering the real economy without fear of tomorrow. It is one of the rare cases where we see the real economy preceding the stock market in the inflow of new capital.

Positive news from the economy

However, the stock market may remain in the same and familiar lateral movement since last April, but the messages from the course of the economy remain positive, making more and more obvious the paradox that the economy “precedes” the market. Greece’s GDP grew by 13.4% in the third quarter of the year, driven by the recovery of tourism, which increased services exports by 86.4%, and double-digit growth in investment and a large increase in private consumption.

In this context, the issue of asset quality for Greek banks seems to be a thing of the past and the overall NPE index of the industry should approach 5% by 2022, according to Wood estimates. “The strong appetite for securitization suggests that the execution risk for outstanding transactions is relatively low and we can now safely say that Greek banks are becoming regular financial institutions,” he said.

On the board

On the board now, Ellactor and Alpha Bank were in the spotlight of sellers, recording losses of 2.81% and 2.08% respectively, while the fall in IPTO, Viohalco, PPC and Ethniki was over 1%. Titan, Hellenic Petroleum, OPAP, GEK Terna, HELEX and Eurobank closed slightly lower.

On the other hand, Coca Cola supported with + 2.38%, as well as Jumbo with + 2%, while the rise in Aegean, Lambda and EYDAP was over 1%. ELHA, OTE, Sarantis, Piraeus, Motor Oil, PPA, Mytilineos and Terna Energeiaki closed slightly higher.