The Athens Stock Exchange closed slightly lower, which with the help of selected index stocks managed to reduce losses at the end and maintain the level of 870 points.
In particular, the General Index closed with losses of 0.04% at 876.89 points, while today it moved between 869.85 points (-0.84%) and 879.84 points (+ 0.30%). The turnover amounted to 47.7 million euros and the volume to 16.1 million units, while 0.1 million units were traded through pre-agreed transactions.
The index of high capitalization closed with an increase of 0.03%, at 2,101.38 points, while at -0.62% Mid Cap completed the transactions at 1,506.53 points. The banking index closed with gains of 0.30% at 565.25 points.
Although it was found up to 869 points, selected stocks with higher weight were activated and restored the General Index above the levels of 875 points. Of course, he will have to cross the first resistance of 878 points very soon if he wants to undo the highly declining scenario of slipping to 850 – 853 points. And this must be done no later than tomorrow when the week ends.
However, despite the negative climate that prevailed, foreign analysts do not stop supporting the positive scenario for Greece. In fact, today Citigroup estimates that earnings per share of Greek listed companies (including banks) will increase by 29.1% – an improved forecast compared to 25% previously, which will be the highest increase in Europe, but and relative to the average in emerging markets, developed markets and the US. The estimated P / E index in the Greek market for 2021 is set at 12.1x, while for 2022 it will move to 10.1x.
Internal catalysts are missing
The market has been in “connection” with international developments on the pandemic front since the last ten days of November, as most domestic catalysts are on hold. Of course, this does not mean that there are no factors that can support a more positive scenario, in which economic activity will not stop, nor will the health system be tested to the fullest.
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.
On the board
On the board now, Sarantis, Viohalko, Ellactor, Mytilineos, Lambda and Titan closed with losses exceeding 1%, while GEK Terna, IPTO, PPA, Piraeus, Aegean, Coca Cola, Alpha Bank closed slightly down. .
On the other hand, PPC, Eurobank and Terna Energy closed with gains exceeding 1%, while HELEX, Hellenic Petroleum, Jumbo, OTE, EYDAP and Motor Oil closed slightly higher. ELHA finally closed without change.