The Stock Exchange found ά some defenses in the pressures

It finally put under control the pressures received today by the Athens Stock Exchange, which although it was even at 879 points, finally kept, with the help of selected index stocks, the losses below 3 points.

In particular, the General Index closed with losses of 0.29% at 885.40 points, while it moved between 879.68 points (-0.93%) and 889.61 points (+ 0.19%). The turnover amounted to 56.9 million euros and the volume to 20.7 million units, while 0.77 million units were traded through pre-agreed transactions.

The index of high capitalization closed with a fall of 0.22%, at 2,127.18 points, while at -0.92% the Mid Cap completed the transactions at 1,473.54 points. The banking index closed with gains of 0.35% at 570.19 points.

The stock market may show that it has entered a new downtrend, however today it put a stop to the sellers, who are besieging selected stocks from the first hours of the session. And this picture is another confirmation of how vulnerable the Greek market remains, as much as the anxiety for the possible announcements of the European Central Bank next Thursday.

In other words, no matter how hard he tried to recover the 900 units in the previous days, he only managed to show the lack of portfolios that can take the risk for a better closing of the year. Thus, the folding to lower levels was done with concise procedures, even testing the endurance of many longs who believed in a Christmas rally to the highs of the year.

Now, most portfolios are looking to the new year, looking for opportunities based on both the results of the 9 months and the resilience of listed companies in the difficult environment that will be created by the gradual tightening of monetary policy. As in fact, Dim. Trigger of Beta Securities, clearly the companies with strong balance sheets that exceeded the profits of the 9 months of 2019 have the first reason to be placed in the portfolios of investors, providing greater security. However, laggards (ie companies that are lagging behind) with the main reason for the decline of the economy and not specific reasons may need to be in the magnifying glass of each investor, as the disadvantage may become an advantage in the near future!

Looking at the ECB

As stock market sources in Capital.gr point out, the market is not going to take a bigger risk on the one hand and to improve its trading activity on the other hand if it does not first have some visibility about what the ECB will do on Thursday. After all, Frankfurt may have said through the mouths of many officials that it will support the European economy, but the rapid rise in inflation does not leave much room for the Eurobank’s excessive money supply tactics.

And clearly one of the countries that will be most affected by a possible change will be Greece, which has already benefited from low borrowing costs to improve its debt service profile. Today, it was announced that securities amounting to 2.917 billion euros were offered, in the context of the call for redemption or exchange of bonds for the maturing series 2023, 2024 and 2025. The offers covered 72.16% of the total issues to which the transaction concerned, with settlement to be expected on 17 December.

On the board

On the board now, Lambda closed with losses of 3.14%, with EYDAP following with -2.34% and Jumbo, Titan, Viohalko, ELHA, Aegean, OPAP, PPC, HELEX and Ellactor closing with a drop that exceeded 1%.

GEK Terna, Piraeus, Motor Oil, PPA, IPTO and Eurobank closed slightly lower, with Alpha Bank finally closing unchanged. On the other hand, + 2.43% of Ethniki gave significant support, but also + 1.69% of Hellenic Petroleum and + 1.22% of Coca Cola. OTE, Terna Energeiaki, Mytilineos and Sarantis also closed slightly higher.