The Stock Exchange is defending for 950 points

The Athens Stock Exchange is called today to defend the levels of 950 points, which after an impressive start to the new year is in the process of securing profits.

In particular, the General Index records losses of 0.92% at 947.00 points, while the turnover is at 7.6 million euros and the volume at 3.4 million units. The FTSE 25 also fell 0.95% to 2,289.14 points, while the banking index lost 1.11% to 641.99 points.

The Stock Exchange needs a “stop” in the upward trend that is deleting not only from the beginning of the year, but also from December 21, in order on the one hand to improve liquidity levels in portfolios and on the other hand to allow any restructuring reasonably caused after significant rises. After all, one should not forget that the current levels were lost overnight in December 2014, and since then they have not been achieved despite the repeated efforts of the optimists.

The question, of course, is that the General Index should not lose the levels of 630 points in case the corrective movement takes on dimensions, something that does not seem to be on the horizon at the moment, but without ruling out a very negative scenario. Of course, the market has the support factors needed to hold on to the acquis, but its shallowness is traditionally not an incentive to activate them.

Waiting for Fitch

Meanwhile, the Stock Exchange is currently expecting the Fitch rating agency, which may upgrade, or “pave the way” for it, the Greek economy, putting it in the final stretch to recover the investment grade. In fact, just one day before its scheduled rating for Greece, the rating agency Fitch reiterated its assessment that the NPE index of Greek banks will move to single-digit levels this year, thus approaching European normality.

On the board

On the board now, Aegean corrects today by 2.22%, with OTE, Ethniki, Ellactor, Jumbo, PPC, HELEX, Eurobank, Lambda, Hellenic Petroleum and Piraeus following with a drop of more than 1%.

OPAP, Motor Oil, PPA, Titan, Alpha Bank, IPTO, Quest, Terna Energy, ELHA, GEK Terna, Mytilineos and Viochalko are moving slightly downwards, with Sarantis and Coca Cola being in marginally positive territory.