The Stock Exchange finds support for the reaction

LAST UPDATE: 16:51

With great support from the energy sector, the Athens Stock Exchange finally manages to keep alive its upward reaction, approaching the level of 860 points in a volatile and dangerous environment.

In particular, the General Index records gains of 0.76% at 858.56 points, while the turnover is at 72 million euros and the volume at 37.7 million units. The FTSE 25 also recorded an increase of 0.49%, to 2,069.06 points, while the banking index gained 1.12% to 590.29 points.

After a three-day sharp decline and a major change in the technical picture of the market, buying moves clearly remain cautious and selective, as the big reason for the dive has not been eliminated. On the contrary, uncertainty on the geopolitical front remains, with relations between Russia and the West severed due to the invasion of Ukraine.

Nightmare energy costs

What most domestic analysts point out is that the market will now have to take into account in its estimates and positions the large increase in energy costs that will gradually begin to appear in the balance sheets of most listed companies, especially those in the manufacturing sector. With oil near $ 120 a barrel and gas a breath away from € 200 a megawatt hour, no design could predict those levels.

Thus, what is now estimated in Athens Avenue is that firstly there should be an adjustment of estimates for earnings per share of 2022, clearly lower in many sectors due to rising production costs, and secondly how many listed companies can afford it. costs until prices normalize, most likely in the second half of the year. This should take into account the costs that consumers will have to bear, in an already rising inflationary environment.

On the board

On the board now, Sarantis and Hellenic Petroleum record gains of 5.67% and 5.47% respectively, with Motor Oil and Aegean following with + 4.5%. Over 3% is the increase in Mytilineo, ELHA, Piraeus and Viohalko and over 2% in EYDAP, PPA, Titan and Ellactor.

Terna Energeiaki and IPTO are moving above + 1%, while Quest, Eurobank, GEK Terna, Ethniki, Alpha Bank and Jumbo are moving slightly upwards, while Lambda and OPAP are moving slightly downwards. PPC and OTE are moving above -1%, with Coca Cola losing 3.61%.