The Stock Exchange is regressing with ‘Omicron’

The Athens Stock Exchange is still operating in a difficult environment with increased uncertainty, which is taking yesterday’s profits in order to minimize the risk it can take until it clarifies the landscape with the new Covid 19 mutation.

In particular, the General Index records losses of 0.13% at 876.14 points, while the turnover is at 4.2 million euros and the volume at 1.5 million units. The FTSE 25 also recorded a drop of 0.18%, to 2,097.10 points, while the banking index lost 0.41% to 561.28 points.

As in Europe, the investment psychology at the ATHEX remains fragile as it is not yet clear whether the new Omicron mutation of the coronavirus can lead to stricter economic activity. According to Capital.gr, the biggest pharmaceutical giants on the planet have warned that it will take a few weeks to adjust their production if they accept that the new mutation escapes the protection offered by their vaccines.

However, according to information from Capital.gr, both the prime minister and the government as a whole state in the most clear and unequivocal way that the country is not going to enter a new lockdown. And this requires the implementation of a comprehensive plan, based on controls for compliance with the measures, but also on mass tests of vaccinated and unvaccinated.

Looking at the ECB

However, apart from the pandemic, the domestic market has also turned its attention to possible decisions of the European Central Bank regarding the program to support the economy due to the pandemic. And as the economists suggest, the ECB converges on the fact that prolonged inflationary pressures and the Omicron Mutation are shifting the elements needed to take account of a change in monetary policy, in particular for the PEPP program which also concerns Greece.

It is recalled here that the possible end of the PEPP, which will occur by the end of March 2022 at the earliest, could, according to Moody’s, cause instability where the demand for Greek debt in the financial markets will be lower than the optimal for state funding needs. Thus, the ECB decision on Greek bonds in 2022 is crucial in this regard and may have an impact on borrowing costs.

On the board

On the board now, Ellactor is losing 1.45%, with Alpha Bank, Jumbo, PPC, Saranti, OPAP, Lambda, Viohalco, Ethniki, Piraeus and Coca Cola moving with small and controlled losses.

On the other hand, support gives more than 1% profits to Motor Oil, Titan and ELHA, while EYDAP, Hellenic Petroleum, Mytilineos, OTE and Aegean move slightly higher. Unchanged are Eurobank, PPA, HELEX, Terna Energy, GEK Terna and IPTO.