The Stock Exchange remains in the zone of 880 units

Earnings on the Athens Stock Exchange have been significantly reduced at the moment, with the general index risking to reverse the break of the resistance of 878 points at the end of a week dominated by nervousness and uncertainty due to the new wave of pandemic spread.

In particular, the General Index records gains of 0.43% at 880.68 points, while the turnover is at 18.2 million euros and the volume at 9.1 million units. The FTSE 25 also recorded an increase of 0.56%, at 2,113.07 points, while the banking index gained 0.50% to 568.06 points.

The long swamps

What makes the biggest impression in the domestic market is the fact that while foreign analysts often express themselves in the best terms about the course of the economy and the listed companies, the ATHEX remains stuck in a range of 100 units since last April. And as things stand, this is not going to change despite the positive outpouring of foreigners.

For example yesterday was Citigroup, today JP Morgan that showed that it trusts Greek shares, placing the ATHEX in the most attractive trades for 2022 throughout the Emerging Markets region. According to JP Morgan estimates, the P / E of Greek shares will be 14.5x in 2022 from 17.8x this year, while the dividend yield will be of the order of 3.6% from 3.4% in 2021.

But no matter how much foreigners support the Greek market, critical industries, such as banking, are unable to lead it to higher levels. In fact, as Apostolos Manthos of Aenaon Markets reports today, once again the banking shares, when given the baton of the rise, on November 17-19, to go to the market one or two steps above, suffered the well-known “pull”, with the immediate result that they completely lose their gait and where they were going uphill the … downhill would take them.

In fact, with the advent of the “Omicron” mutation and the downward pressure from outside, some people remembered the old bad tricks, recording even double-digit daily losses, even if they were recently recapitalized. A phenomenon that many of us thought had disappeared since the banking companies show through their financial results that they have begun to climb one by one the steps towards their healthy return to operating profitability and growth.

Dashboard

On the board now, EYDAP, PPC, OPAP, Piraeus and Ethniki record profits exceeding 1%, while Coca Cola, Motor Oil, PPA, Ellactor, Aegean, Titan, Eurobank, Alpha Bank, Mytilineos, IPTO move slightly higher. ELHA, OTE and Lambda.

On the other hand, Sarantis, Viohalko, HELEX, Hellenic Petroleum, Jumbo and Terna Energeiaki are moving in negative territory, but none of them is moving with losses of more than 1%. GEK Terna is unchanged.