The Stock Exchange continued to climb, the correction gap closes

The Athens Stock Exchange continues to recover with undiminished intensity from the lows of January 25, as today it not only confirmed the levels of 940 points, but also took a step towards the psychological limit of 950 points, which paves the way for even higher levels. .

In particular, the General Index closed with gains of 1.19% at 947.88 points, while today it moved between 940.39 points (+ 0.39%) and 949.70 points (+ 1.38%). The turnover amounted to 89.9 million euros and the volume to 41.2 million units, while 5.1 million units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 1.35%, at 2,304.81 points, while at + 0.65% Mid Cap completed the transactions at 1,569.54 points. The banking index closed with an increase of 1.60% to 688.80 points.

The reaction when … he had to

Against a very negative international environment, the ATHEX managed to react as soon as it reached the level of 911 points on January 25 and to provoke the buying forces that existed … but did not move due to uncertainty. The recovery exceeds 30 points in five sessions, while the banking is now in contact with 700 points, overcoming critical peaks that had been stopped in the previous period.

Now what the ATHEX needs is the next steps to put the defenses again above the levels of 940 points, which according to many analysts are the last bastion before the General Index sees 1,000 points. The distance it has to cover is not great, as it barely exceeds 6% of current levels, but the international climate is not at all supportive of taking risks in a market that does not have the depth that foreign investors need.

Analysts remain positive

However, the ATHEX seems to remain on the radar of foreigners, with the first month of 2022 giving the Greek market profits that brought it to first place, at least in Europe, but also up to third place in the world in performance, with the main help of banks . During the week, a possible confirmation of the support of the Greek assets by the European Central Bank, in the context of the meeting of its board of directors, is also likely to work positively. It is something that the head Christine Lagarde did in her previous press conference, improving the psychology of foreigners for the Greek capital market.

Besides, JP Morgan also spoke about the opportunities presented by the Greek banking industry at the CEEMEA Opportunities Conference, emphasizing that everything is in their “position” so that the industry can be led to much better days. According to JP Morgan, Greek banks have sent an optimistic message for 2022, when it estimates that their shares have significant further growth margins and thus places them in its top choices for the current year.

On the board

On the board now, Viohalco and Aegean recorded an increase of 4.60% and 4.55% respectively, with Mytilineos and GEK Terna following with + 3.43% and + 3.25%. Over 2% was the increase in OPAP, Motor Oil and Alpha Bank and over 1% in ELHA, Titan, Ethniki, Hellenic Petroleum, Piraeus, Eurobank and OTE.

PPC, EYDAP, PPA and Coca Cola closed slightly higher, with Sarantis closing unchanged. On the other hand, Lambda, Terna Energeiaki, IPTO, Jumbo and Ellaktor closed slightly lower, with Quest falling by 3.30%, as it traded without the right to distribute a temporary dividend of 1.25 euros per share (1.1875 euros net ).