The Stock Exchange is struggling to save 850 points

The Athens Stock Exchange is currently trying to set a limit on the sell off, but it can not recover the 850 points, despite the efforts of the index OTE, against the strong fall of the banks, Coca Cola and PPC.

In particular, the General Index records losses of 2.43% at 845.39 points, while the turnover is at 89 million euros and the volume at 45.2 million units. The FTSE 25 also fell 2.74% to 2,040.35 points, while the banking index lost 3.86% to 579.29 points.

The ATHEX is in a sharply declining channel since the decision to impose sanctions on Russia by the West, as it is still uncertain what the impact will be on several Greek companies that have exposure in the region. It is no secret that investor confidence in such an uncertain environment can not be high, at a time when logic requires reducing exposure to risky assets.

And the ATHEX from the beginning of 2022 may have shown signs of a mature market, with strong resistances, no one can overlook the fact that it is in the group of emerging markets, but also that its economy lacks investment grade. Therefore, as a stock market source in Capital.gr characteristically states, the bad “legacy” of the financial crisis is not only seen in the problematic assets of banks and listed companies, but also in the loss of valuable data that could strengthen the embankments of the Greek capital market.

Of course, what is pointed out is that if there is a gradual de-escalation of the crisis and a normalization of relations between the two sides, the ATHEX is likely to return to pre-Ukrainian crisis levels relatively soon. But because such a scenario does not seem to be confirmed at present, a greater effort may be needed to neutralize the geopolitical impact on Athens Avenue, while everything will depend on the efforts of the Greek government to support the affected companies.

Dashboard

On the board now, PPC loses 8.12%, with Coca Cola at -7.78%, while Eurobank and Aegean record losses of 5.88% and 5.64% respectively. Ethniki, Biochalko and Alpha Bank move more than -3% and Titan, Motor Oil and Hellenic Petroleum move more than -2%.

The losses in Lambda, Terna Energeiaki, Mytilineos, Quest, GEK Terna, ELHA, IPTO, EYDAP and PPA exceed 1%, while OPAP and Piraeus maintain them under control. On the other hand, Jumbo, Ellactor, OTE and Sarantis are moving in positive territory.