Today, the Athens Stock Exchange returned to the strongly downward trajectory, which, although it tried, failed to keep the zone of 850 points, confirming that the folding to lower levels will continue and the international climate is not helping.
In particular, the General Index closed with a fall of 1.54% at 843.17 points, while today it moved between 854.71 points (-0.19%) and 842.70 points (-1.60%). The turnover amounted to 71.28 million euros and the volume to 29.91 million pieces, while 9.39 million pieces were traded through pre-agreed transactions.
The high-cap index closed down 1.58% at 2,028.15 points, while the Mid Cap ended trading at -1.66% at 1,335.05 points. The banking index closed down 1.91% at 545.37 points.
After yesterday’s small respite, the ASE returned today to a strong downward trend, essentially closing a five-day period of strong losses of more than 50 points. Thus, while last Thursday it flirted with the upward split of 900 units, it is now driven close to the lows of the summer, after losing one more support, that of 845 – 850 units.
But even in today’s session he had a completely negative international environment in front of him, which is devoted on the one hand to reducing the risk and on the other hand to a risk premium for the holding of assets, at a time when all eyes are on Frankfurt, where the European Central Bank is called upon to solve the nexus of high inflation and low growth.
The risk premium that is gradually integrated into risky assets is also reflected in the course of the yield of the Greek bond, which now exceeds 4%, a level considered to be the milestone for the activation of the new support mechanism announced by the ECB. Whether it will step in to stop fragmentation in the Eurozone is a question mark, as the rise in fixed income yields is not just a Greek phenomenon, but affects almost all European bonds.
And this premium is also reflected in the Greek stock market, which has settled near summer lows, negating almost all of the reaction that took place from early July to mid-August. And the big question now is whether the negative scenario of the coming months has been incorporated, or the risk is still high and the downward correction still has a way to go.
On the dashboard
On the board now, Jumbo lost 3.09%, with Coca Cola, Eurobank, Motor Oil, ELHA, Mytileneos, OTE, Quest and Biohalco following with losses of more than 2%. Titan, Alpha Bank, Ethniki and GEK Terna closed above -1%.
PPC, Piraeus, PPA, ADMIE, Terna Energy, Hellenic Petroleum and Lambda are moving slightly downwards, while on the opposite side, Ellactor, Aegean and EYDAP are slightly increasing. OPAP closed at +1.29% and Sarantis at +3.65%.
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.