With gains that strengthened in the last hour of the session, but also with transactions that improved in relation to the cautionary sessions of the beginning of the week, the Athens Stock Exchange managed to approach 960 points, led by the banking sector, which “woke up” after three-day correction.
In particular, the general index closed with gains of 0.63% at 957.60 points, while today it moved between 949.80 points (-0.19%) and 950.59 points (+ 0.83%). The turnover amounted to 83.2 million euros and the volume to 34.6 million units, while 2.6 million units were traded through pre-agreed transactions.
The index of high capitalization closed with an increase of 0.77%, at 2,313.88 points, while at -0.28% Mid Cap completed the transactions at 1,580.55 points. The banking index closed with gains of 1.89% at 663.25 points.
Although for most of the session the ATHEX was trying to absorb the pressures that were manifested in about half of the board, in the last hour, the awakening of the banking sector gave a boost and drove the general index close to 960 points. Most importantly, however, a level of a few points above 950 has been maintained and expanded, which may be fragile, but it sends a strong enough message about the intentions of buyers.
Thus, there is no doubt that the ATHEX seems to be successfully assimilating its levels this week, against the international turmoil caused by the prospects for the intentions of central banks, and this is only positively perceived by domestic analysts. In fact, as long as buying moves are made at the seven-year high, market support appears more capable of halting an unpredictable wave of correction.
So another message that the ATHEX emits from the “turn” of the new year is that its endurance has improved. Until recently, the image of the overreaction in declining periods of the international markets had received anecdotal remarks, in contrast to the sequence of the upward ones from Athens Avenue. Since the beginning of the year, however, the picture has been reversed, with the ATHEX showing that it can be freed from the turmoil of foreigners and keep the levels even if it needs to raise its turnover a bit. After all, the average of 100-120 million per day in the upward meetings was important for the Greek data, but negligible and manageable for foreigners.
The certified analyst Petros Steriotis agrees with the above, emphasizing that in the current situation, the convincing break-up and securing of 950 points presupposes “fresh money” on the one hand, and a helping hand from the suffocating Foreign Stock Exchanges and bonds on the other. The risk of the multiple top of the General Index is addressed with the prudent use of sell stop orders, but on the other hand does not cause the investor to refuse to accept the new chart highs, when and when they are recorded.
Dashboard
On the board now, Piraeus and Alpha Bank jumped 3.22% and 3.19% respectively, with Ellactor following with + 2.20%. Profits in Ethniki, Lambda, Jumbo, IPTO, PPA, Hellenic Petroleum and GEK Terna were over 1%.
Mytilineos, Coca Cola, Viohalko, OPAP, OPAP, Titan, Motor Oil and Quest closed slightly higher, with Aegean and Eurobank following unchanged. On the other hand, PPC, OTE, Terna Energy and Sarantis closed slightly lower, while EYDAP and ELHA closed at -1.61% and -1.93% respectively.
The Stock Exchange finally received a banking boost
With gains that strengthened in the last hour of the session, but also with transactions that improved in relation to the cautionary sessions of the beginning of the week, the Athens Stock Exchange managed to approach 960 points, led by the banking sector, which “woke up” after three-day correction.
In particular, the general index closed with gains of 0.63% at 957.60 points, while today it moved between 949.80 points (-0.19%) and 950.59 points (+ 0.83%). The turnover amounted to 83.2 million euros and the volume to 34.6 million units, while 2.6 million units were traded through pre-agreed transactions.
The index of high capitalization closed with an increase of 0.77%, at 2,313.88 points, while at -0.28% Mid Cap completed the transactions at 1,580.55 points. The banking index closed with gains of 1.89% at 663.25 points.
Although for most of the session the ATHEX was trying to absorb the pressures that were manifested in about half of the board, in the last hour, the awakening of the banking sector gave a boost and drove the general index close to 960 points. Most importantly, however, a level of a few points above 950 has been maintained and expanded, which may be fragile, but it sends a strong enough message about the intentions of buyers.
Thus, there is no doubt that the ATHEX seems to be successfully assimilating its levels this week, against the international turmoil caused by the prospects for the intentions of central banks, and this is only positively perceived by domestic analysts. In fact, as long as buying moves are made at the seven-year high, market support appears more capable of halting an unpredictable wave of correction.
So another message that the ATHEX emits from the “turn” of the new year is that its endurance has improved. Until recently, the image of the overreaction in declining periods of the international markets had received anecdotal remarks, in contrast to the sequence of the upward ones from Athens Avenue. Since the beginning of the year, however, the picture has been reversed, with the ATHEX showing that it can be freed from the turmoil of foreigners and keep the levels even if it needs to raise its turnover a bit. After all, the average of 100-120 million per day in the upward meetings was important for the Greek data, but negligible and manageable for foreigners.
The certified analyst Petros Steriotis agrees with the above, emphasizing that in the current situation, the convincing break-up and securing of 950 points presupposes “fresh money” on the one hand, and a helping hand from the suffocating Foreign Stock Exchanges and bonds on the other. The risk of the multiple top of the General Index is addressed with the prudent use of sell stop orders, but on the other hand does not cause the investor to refuse to accept the new chart highs, when and when they are recorded.
Dashboard
On the board now, Piraeus and Alpha Bank jumped 3.22% and 3.19% respectively, with Ellactor following with + 2.20%. Profits in Ethniki, Lambda, Jumbo, IPTO, PPA, Hellenic Petroleum and GEK Terna were over 1%.
Mytilineos, Coca Cola, Viohalko, OPAP, OPAP, Titan, Motor Oil and Quest closed slightly higher, with Aegean and Eurobank following unchanged. On the other hand, PPC, OTE, Terna Energy and Sarantis closed slightly lower, while EYDAP and ELHA closed at -1.61% and -1.93% respectively.
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.
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