The Stock Exchange is also fighting for 820 points

The Athens Stock Exchange is currently struggling to defend the levels of 820 points, which is again under strong pressure, as a major shift in the policies of the central banks is underway.

In particular, the General Index records losses of 2.06% at 821.67 points, while the turnover is at 33 million euros and the volume at 11 million units. The FTSE 25 also fell 2.14% to 1,984.83 points, while the banking index recorded losses of 3.55% to 526.96 points.

What we are seeing is a large turnover of large funds into traditional safe havens, until the prospects and intentions are clear. And the Greek Stock Exchange can not but be in the crosshairs of divestments in high risk markets, even if the presence of foreigners is relatively low in Athens.

Everything that the Stock Exchange has been trying to achieve in recent months, that is, to improve the quality of its long-held portfolios, is collapsing within a few days. The congestion at the exit door is great, as one after another the central banks try to control inflation, putting a brake on cheap money, but also on consumption and investment. Of course, where this will lead is the big question, as the last time it was done by Paul Volker, it led the American economy into recession.

Having recalled this memory, the markets are looking for either liquidity or safe havens, until they can clarify the impact of the decisions now being made on the economy as a whole. And the big issue that now concerns Athens Avenue is when the slump will stop, that is, when the sellers will stop incorporating the worst case scenario for the Greek economy.

On the board

On the board now, Piraeus, Ethniki, Eurobank, Alpha Bank, ELHA and Viohalko record losses of more than 3%, while Jumbo, Hellenic Petroleum, OTE, PPC, Lambda, OPAP and Mytilineos are moving above -2%.

The drop in PPA, Aegean, GEK Terna, Quest, Sarantis and IPTO exceeds 1%, with EYDAP, Titan and Motor Oil following with controlled pressures. Ellactor is unchanged, with Coca Cola at + 0.98% and Terna Energy at + 1.12%.