Buyers on the Athens Stock Exchange have found a better pace in the last hour, but it remains in a narrow range, without for the time being testing its strength again close to 920 points.
In particular, the General Index records gains of 0.51% at 914.66 points, while the turnover is at 40.2 million euros and the volume at 20.4 million units. The FTSE 25 also recorded an increase of 0.65%, to 2,205.14 points, while the banking index recorded gains of 1.12% to 598.16 points.
The first priority of buyers today is to stop the downward trend of the market, which already counts six sessions and “loss” of more than 10 points. The moves are selective, especially the buying ones, while there is also pressure from heavyweights, such as Coca Cola, which corrects after yesterday’s jump.
The banking industry is returning
Apart from trading selected securities, however, what has been pointed out since yesterday is the positive contribution of the banking sector, after more than a week of correction and introversion. The division is approaching the critical level of 600 points, while the “awakening” of the National has helped the other titles to recover. Greek banking stocks are trading on average with a P / TBV index at 0.5x for 2022, ie at a significant discount of 47% compared to the banks in the region of Europe.
Also, in the next period, the Greek banks announce the results of the third quarter, starting with Piraeus Bank on November 19. According to NBG Securities, while a decrease in the annual net interest income (NII) is expected due to securitizations, however, it estimates that the NII from the serviced loans to move at stable levels. Overall, however, NBG believes that the quality of capital and the DTC will be the next key issue that Greek banks will have to deal with after completing their NPE liquidation plans.
On the dashboard
On the board now, Terna Energy, Ethniki and PPA record profits in excess of 2%, while OTE, ELHA, Hellenic Petroleum, EYDAP, Aegean, Alpha Bank and OPAP move above + 1%.
IPTO, GEK Terna, Sarantis, Jumbo, Titan, Eurobank, Mytilineos, Piraeus, HELEX, Ellactor and Motor Oil are moving slightly upwards, while on the other hand, Lambda and Viohalko are slightly declining, PPC Coca loses 1.16% and Coca declines by 1.58%.