The Stock Exchange receives a strong banking boost

The Athens Stock Exchange received a strong push today to close July close to two-month highs, which is gradually even approaching the levels of 850 units.

In particular, the General Index registers gains of 1.20% at 849.62 units, while the turnover is at 19.5 million euros and the volume at 8.8 million pieces. An increase of 1.27% is recorded by the FTSE 25, at 2,048.38 points, while the banking index registers gains of 2.39% at 526.32 points.

The market is within its first major resistance between 845 – 850 points, which if successfully broken will lead to closing the gap at 860 points. And if this scenario happens, then AXA will have confirmed for the second time in a few weeks that it can not only hold the 780 points, but it can also show some reaction from the levels.

At the FTSE 25 level, the reaction came from 1,930 points, with the index taking support at 2,013 points. The stakes now are for the index-heavy titles to provide an impetus for the index to reach the next target, which is at 2,065 points, a scenario quite likely, as the oscillators are at very good levels for a better time reaction of a few weeks.

Of course, in all this the market could have a much better chance if it improved its trading activity. Something of course that is not expected in August, which is traditionally the most “quiet” month of the year. Only selectively there may be some outbursts, data and corporate results expected in the next few days.

On the dashboard

On the board now, Alpha Bank, Terna Energy, Eurobank and Ethniki are recording gains of more than 2%, while more than 1% is the increase in Hellenic Petroleum, PPC, Jumbo, Piraeus, Motor Oil, Coca Cola, Sarantis, Biochalco and Titan.

ADMIE, GEK Terna, Lambda, OTE and Mytileneos move slightly upwards, while PPA, EYDAP and Aegean are unchanged. On the other hand, ELHA, OPAP and Quest are slightly down, while Ellactor loses 1.73%.