The Stock Exchange ‘plays’ defense at 960 points

The developments in Ukraine, but also the uncertainty around the course of the economic recovery in a changing monetary environment are two main catalysts that have put yesterday and today the brakes on the buyers of the Athens Stock Exchange, which of course maintains its 960 units.

In particular, the General Index records losses of 0.33% at 960.43 points, while the turnover is at 2.2 million euros and the volume at 1.1 million units. The FTSE 25 also recorded a fall of 0.08%, to 2,358.07 points, while the banking index lost 0.18% to 739.96 points.

It is clear that when all the world’s markets follow developments in a geographical area, such as the Russian-Ukrainian border, the ATHEX can not move at risky and fragile levels of support. Thus, the picture of Monday’s lost ground recovery, combined with the assimilation moves of 960 points, is a scenario that for many analysts is positive at present, as it allows the encapsulation of part of the liquidity for several portfolios and the assimilation of levels with the necessary minor corrections.

It is also clear that if the geopolitical sources of uncertainty do not disappear and it does not clarify, in about a month, what exactly the plans of the European Central Bank will be to manage the Greek bonds in the post-PEPP (pandemic program) era, the market will hardly test the four-digit levels in its overall index, as they are only 4% away from the current ones. This is because, as stock market sources in Capital.gr have pointed out, it is in full relation to the behavior of foreigners towards Greek assets.

Of course, in the latter there is the contradiction of the behavior of foreigners as long as Greek bonds are already supported by the ECB, however, the answers come from various levels, as now positive catalysts have begun to be implemented that did not exist in the past. These include banking performance, economic recovery, political stability and others.

On the board

On the board now, Ellactor is recording losses of 1.20%, with Alpha Bank, Quest, Saranti, EYDAP, OTE, Ethniki, ELHA, Mytilineo, Biochalko, Titan, Eurobank, PPA, Motor Oil and Lambda following with a controlled fall.

On the other hand, Terna Energeiaki, OPAP, Hellenic Petroleum, Jumbo and Piraeus are moving slightly positively, but without any difference in their profits, with IPTO, GEK Terna, PPC, Coca Cola and Lambda still looking for a direction.