The Stock Exchange slides again towards 850 points

Pressure is now mounting on the Athens Stock Exchange, which is slipping back to 850 points, with the banking sector in the spotlight, with losses of more than 2%.

In particular, the General Index records losses of 1.09% at 857.60 points, while the turnover is at 27 million euros and the volume at 11.5 million units. The FTSE 25 also fell 1.29% to 2,053.43 points, while the banking index lost 2.56% to 546.64 points.

The reaction attempted since Friday does not last, with the General Index slipping again towards the psychological support of 850 points, under the weight of bank losses and more. And this image confirms that the upward movement brought by the recent decision of MSCI to include Ethniki and Mytilineos in its indexes, does not last.

And the climate deteriorated when the Commission’s report on Greece became known, which although it forecasts growth of 3.5% for this year and 3.1% for 2023, points out that there is a slowdown in the economy due to high inflation and uncertainty. caused by the war in Ukraine but stresses that the economy will continue to grow both this year and next year guided by the recovery of tourism, exports and investment.

Now the next milestone against the sellers is 843 units and now it remains to be seen if we will have a formation that will significantly lower our targets on all shares or the market will move again with V. In FTSE 25 the close support is in 2,025 units, support that a possible split could give us a move to 1,967 units. In the banking index the zone of 530-540 is support in the sector.

On the board

On the board now, Piraeus loses 3.95%, with PPC, Eurobank, Alpha Bank and OTE following with losses of more than 2%. Ethniki, Motor Oil, Coca Cola, Hellenic Petroleum, Lambda and IPTO are moving above -1%.

Aegean, Quest, EYDAP, Mytilineos, Ellaktor, Sarantis, GEK Terna and Jumbo are moving slightly downwards, while PPA, ELHA and Titan are moving slightly upwards. Profits of more than 1% are recorded by OPAP, Terna Energy and Viohalko.