The Stock Exchange sees all 930 units

LAST UPDATE: 15:54

The Athens Stock Exchange is following a steady upward trend today, which is maintained above the levels of 920 points, reacting on the substance after yesterday’s suffocating pressure.

In particular, the General Index records gains of 4.63% at 929.41 points, while the turnover is at 91 million euros and the volume at 38 million units. The FTSE 25 also recorded an increase of 4.61%, to 2,264.95 points, while the banking index gained 5.65% to 696.44 points.

One of the main catalysts for support today, both inside and outside Greece, is both the cold reaction of the West to the Russian invasion of Ukraine and the assessment that the European Central Bank, perhaps the Federal Reserve, will follow a more moderate pace in the process of tightening their policy in order to absorb the shocks that may be caused by geopolitical developments. Especially in the latter, the markets have begun to take seriously the scenario of mild tightening, as shown in the picture of international markets.

As Fitch’s director of financial analysis Tej Parikh explained to Capital.gr, new inflationary pressures are currently being created that would explain the need to raise interest rates, as well as recessionary trends that are exacerbated by tough monetary policy. “Developments in Ukraine are blurring the ECB’s monetary policy data and estimates this year. We believe that the central bank will try to keep all options on the table until the impact of the crisis becomes clearer.”

The bar of estimates is falling

Of course, the latest developments have already led several analysts to prepare a revision of the estimates for the course of the economies of the Eurozone. It is indicative that Wood for Greece estimates that growth this year will be 2% from 4% previously forecast, which however will be one of the strongest in the eurozone as favorable financing prospects and significant improvements on the macroeconomic front will lead country in overperformance.

In terms of inflation, while before the Russian invasion of Ukraine, he estimated that in Greece it will be 8.4% this year and 3.2% in 2023, now based on the oil spike to $ 120 and The rise in food prices, he estimates will jump to 14.7% in 2022 and in 2023 will fall to 6.2%.

On the board

On the board now, Aegean and Lambda are gaining 7.2%, with Ethniki, Hellenic Petroleum, Viohalco, Saranti and Piraeus following with an increase of more than 6%. Eurobank, Mytilineos, ELHA, Motor Oil and Coca Cola are moving above + 5%.

The profits of PPC, EYDAP, Alpha Bank and OPAP exceed 4%, those of Titan, GEK Terna, Ellactor, IPTO, Quest and Terna Energy 3%. PPA is at + 2.44% and OTE is at + 2.51%, while Jumbo gains only 0.15%.