The Stock Exchange stabilized its weekly profits

Marginally close, but lower, of 900 points, the Athens Stock Exchange closed today, but ended another week with a positive sign, but without giving the loud message needed to completely undo the dip caused by the appearance of the Omicron variant in the market.

In particular, the general index closed with gains of 0.04% at 898.63 points, while today it moved between 893.90 points (-0.49%) and 900.32 points (+ 0.23%). The turnover amounted to 37.3 million euros and the volume to 12.5 million units, while 0.74 million units were traded through pre-agreed transactions.

The high capitalization index closed with a fall of 0.04%, at 2,161.64 points, while at + 0.30% the Mid Cap completed the transactions at 1,494.02 points. The banking index closed with gains of 0.04% at 582.16 points.

At the weekly level, the general index closed with gains of 2.20%, while the FTSE 25 strengthened by 2.38%. The rise in the banking index reached 2.05%.

Power maintenance

A few things are left to be priced by the end of the year and the main weight will fall on the announcements of the Fed and the ECB next week without expecting any major difference or surprise with what they have announced in the recent past, he says in his weekly bulletin. M. Hatzidakis of Beta Securities.

Last week, the data of the Greek GDP for the third quarter were announced, giving a strong position of recovery and it seems that 2021 will be a year of total recovery from the “pandemic” pressure that the GDP received in 2020, a fact which is reflected in the balance sheets. of listed companies.

In the international environment we had some first encouraging messages from the scientific community about the evolution of the pandemic as 2022 seems to mark the end of the two-year adventure. On the contrary, the stubborn obsession with high energy costs has dampened the image of optimism.

Already in low-income countries there are problems in the supply and operation of industry putting a reasonable concern in terms of the ability to pass costs on prices and consumption for a long time. As a result, the investment community entered a window dressing process somewhat early with the interest becoming selective and targeted where there is meaning.

The valuations have an upward margin, but they also have fatigue as 11% of the rise of the General Index does not adequately reflect the picture of the Market which in 2021 is exuberantly higher than the returns of the General Index for more than half of the listed shares. In addition, the listed companies have entered the process of managing their young people, postponing for after the holidays possible business developments where the investment climate will be more lively.

The technical image

Technically, the General Index took a small but decisive step towards 900 points, covering all the lost territory of “omicron”, re-entering the trend. Although the picture of the rise is fragile due to low trading data, nevertheless the short-term technical data is clearly more optimistic.

The MACD has been bought since Thursday and both 30 and 50 day moving averages have returned to trading signals since Friday. At the same time, the oscillators are in neutral, implying a significant uptrend before entering overbought zones.

The difficulties for the buyers, however, start from the 905 units and the downward gap of November 23, the level at which the next price resistance is located. The prevalence of mild trends in the next period seems to prevail as a scenario as the existing volumes can not be considered sufficient for a continuous movement in one direction or another, concludes Mr. Hatzidakis.

On the board

On the board now, EYDAP, HELEX and Sarantis recorded profits that exceeded 1%, while Ellactor, Ethniki, Terna Energy, Alpha Bank, GEK Terna, PPC, Titan, Coca Cola, Motor Oil and PPA closed slightly higher.

On the other hand, Hellenic Petroleum and Aegean recorded losses of 1.96% and 1.61% respectively, with Eurobank, Jumbo, OPAP, Lambda, Viohalko, Piraeus, ELHA, Mytilineos and OTE following with a small drop. IPTO without change.