The Stock Exchange is accelerating its rise

LAST UPDATE: 14:04

The Athens Stock Exchange is moving steadily at the level of 870 points today, which follows with a delayed session the positive climate of the international markets, but without taking a big risk.

In particular, the General Index records gains of 1.88% at 877.03 points, while the turnover is at 32 million euros and the volume at 14 million units. The FTSE 25 also rose 1.38% to 2,104.44 points, while the banking index gained 1.63% to 586.10 points.

The word that dominates in Athens Avenue, as well as in the international markets, lately is one: danger. Geopolitical, economic or monetary, caution is the key emotion in the face of rising global risk, which has caused significant upheaval in almost all markets.

So far, the Russia-Ukraine conflict, China’s Covid policy and the Fed have been the main causes of the unrest, but now the European Central Bank is added to the pattern, following recent statements by President Christine Lagarde that the first interest rate hike over 10 years, may come weeks after the end of the bond-buying program at the beginning of the following quarter. That is, in July.

Although the ECB will continue to support Greek securities, the yield on the 10-year bond is at 3.49%, affecting the borrowing costs of Greek listed companies. That is, at a time when domestic business is looking for ways to participate in the recovery of the Greek economy, the ECB will try to control the money supply, in order to set a limit to ever-increasing inflation.

After all, as DBRS points out in today’s report, a longer-term impact on commodity prices and inflation could lead to lower growth in Greece, while additional measures may be needed to support businesses and households. In any case, as DBRS emphasizes, fiscal discipline and maintaining growth are the “keys” to strengthening Greece’s resilience.

On the board

On the board now, Viohalco gains 6.33%, with Sarantis at + 4.48% and Quest, Eurobank, Titan and OTE following with gains of more than 2%. Alpha Bank, PPC, GEK Terna, Hellenic Petroleum and OPAP are moving above + 1%.

Aegean, Piraeus, ELHA, PPA, IPTO, Mytilineos, Jumbo and Coca Cola are moving slightly upwards. On the other hand, Motor Oil, Ellactor, Ethniki, Lambda, Terna Energeiaki and EYDAP are moving slightly downwards.