The Athens Stock Exchange lost more than 16 points in just one session, reflecting the heavy shadow of the course of the pandemic in our country, which may bring new measures that will limit the activity, but also the concerns about how vulnerable the economy in external shocks, such as those of Turkey or a policy change by the European Central Bank.
In particular, the General Index closed with losses of 1.81% at 894.94 points, while today it moved between 894.26 points (-1.88%) and 905.85 points (-0.61%). The turnover amounted to 80.4 million euros and the volume to 31.5 million units, while 2 million units were traded through pre-agreed transactions.
The large-cap index closed down 1.67% at 2,144.58 points, while Mid Cap closed at -4.66% at 1,571.29 points. The banking index closed with losses of 3.27% at 587.77 points.
The environment is mined
Although the ATHEX had managed to stay in a narrow range and over 900 units in recent weeks, it finally succumbed today to the most serious pressures that could manifest itself, in the shadow of concerns about the course of the pandemic in our country. The evaluation of the last measures will take place next week, but until then, the scenarios that come to light and are related to the possibility of further tightening are many.
Although even the measures taken by the Greek government do not lead to large losses of economic activity, nevertheless no one expected that the country would be back to the state it was in before the start of vaccinations. So, what remains as the big question in the market is whether a total or even a partial lockdown is imminent, which will again affect economic activity, especially at a time when retail expects to secure most of its annual revenue. .
After all, the European stock markets moved in the “red” today, with investors worried about the resurgence of cases on the continent that evokes unpleasant memories of the domino lockdown that took place last year, which led to a recession in economies. Investors fear that a new round of restrictive measures to curb the rising tide of the fourth wave of the pandemic could undermine economic recovery again.
And as if that were not enough, there are rumors from neighboring Turkey, which is in an unprecedented currency crisis, leading Capital Economics to believe that Greece is among the economies with important trade links, which will clearly be affected.
The unfavorable scenario
Capturing all the above, the ATHEX lost the levels of 900 points, for the first time in November, with the month that was expected to be profitable, due to the closing of the 12-month period from foreign portfolios, proceeding with the worst possible scenario. Now technically, the General Index failed to keep the levels of 899 points, now heading towards the weak level of 876 points. The banker, who after the “bounce” of last week returned to his downward course, approached the main support of 583 – 586 points.
Meanwhile, the focus remained today on the share of Attica Bank after yesterday’s excesses in its fluctuation, with today’s picture ending at -30% and 1.2460 euros. Of course, its turnover did not exceed 50 thousand euros, but the new adjusted price applied since yesterday has caused shelling turmoil in the stock.
On the dashboard
On the board now, Viohalko, Ethniki and Jumbo were the “trinity” that received the most pressure, recording losses that exceeded 3%, while over 2% was the fall in ELHA, Alpha Bank, EYDAP, IPTO, Piraeus, Saranti, Eurobank, Motor Oil and PPC.
The fall in GEK Terna, HELEX, Titan, Ellactor, Mytilineos, Coca Cola, OPAP and Lambda exceeded 1%, while PPA and Aegean managed to put their fall under control. On the other hand, OTE stood out with the + 1% it recorded, while Terna Energy and Hellenic Petroleum also recorded a small increase.