The Stock Exchange is flirting with 890 points

The Athens Stock Exchange is currently moving around 890 points, which may be “looking” for the remaining portfolios on Christmas Eve, but manages to move higher for the third consecutive session.

In particular, the General Index records gains of 0.65% at 889.76 points, while the turnover is at 16.2 million euros and the volume at 7.1 million units. The FTSE 25 also rose 0.81% to 2,140.75 points, while the banking index gained 0.85% to 573.27 points.

The December pattern appears to be characterized by violent falls due to developments on the pandemic front, followed by slow and selective recovery. So instead of experiencing a santa rally, satisfying after eight months of accumulation, the ATHEX expanded this series for another month, even limiting the range between 857 and 904 points.

Foreigners support the lockdown, except on the agenda

Although the market remains wary of the new variant of Covid 19, the government is trying to keep the lockdown off the agenda. The “Omicron” mutation and the risk of an exponential increase in cases during the holidays due to large gatherings, led the government to take new measures, which, however, are not expected to significantly affect economic activity, at least for now.

The Omicron variant and possible new restrictions could of course affect year-end consumption, as the share of the vaccinated population is around 65% – one of the lowest in the EU. Greece could be exposed to rapid growth infections, leading the government to tougher measures.

At the same time, the Greek economy continues with very strong steps, as HSBC states in its report today, where it is proceeding with a new upgrade of its assessment of growth this year, placing it at 8.8% from 7.5% which had “risen” in October, while at 4.5% (from 5% before) it sees growth in 2022 and at 4% in 2023.

On the board

On the board now, EYDAP, Terna Energy, Titan, Alpha Bank, Ellactor, OPAP and Eurobank record profits exceeding 1%, while Lambda, OTE, Ethniki, ELHA, Mytilineos and PPC are moving close to + 1%.

Quest, Hellenic Petroleum, Piraeus, Coca Cola, Viohalko, GEK Terna, Jumbo, Aegean and Sarantis are moving slightly upwards, with IPTO not changing. On the other hand, PPAs and Motor Oil recorded small losses.