The variation within a narrow range, but also the corrective movements in the majority of its securities, is followed by the Athens Stock Exchange, which remains in the zone of 890 units as the supports are not lacking today either.
In particular, the General Index recorded losses of 0.34% at 891.31 points, while the turnover is at 1.7 million euros and the volume at 0.9 million pieces. The FTSE 25 also fell by 0.44%, at 2,155.05 points, while the banking index lost 0.85% at 581.30 points.
After managing to internally limit the corrections of the securities yesterday, the Stock Exchange today again leaves “room” for the portfolios to encapsulate profits, without any excesses being observed. And as characteristically the certified analyst Petros Steriotis reports, it does not show obvious tendencies of “hypophobia” at the levels, so the rest of the week is called upon to manage the indications offered by the “overbought” daily oscillator RSI at half-year highs, as well as the psychological “barrier” ” of 900+ units.
The strength of the Stock Exchange will soon be tested by the new alarming signals sent by the international bond markets and while the annual inflation in Britain was measured above 10% for the first time in the last 40 years. Under these conditions, the next moves of the European Central Bank in the effort to combat the surrounding atmosphere of galloping inflation will be of particular importance for the risk-taking mood in Athens Avenue as well, according to Mr. Steriotis.
On its side, the Stock Exchange will have the fact that the Greek economy, after a twelve-year adventure, is finally getting the ticket to return to normality, ceasing to be the exception and the “black sheep” among its European partners. The messages from this development may be seen in the upcoming road shows that will take place, where most sectors will go with the confidence that the second quarter results gave them. If these messages are positive, the Stock Exchange will attract significant investments, where they will best frame the existing investment landscape.
On the dashboard
On the board now, Piraeus, ADMIE, PPC, Eurobank and Mytileneos are at the center of the fall, recording losses of more than 1%, while ELHA, Hellenic Petroleum, OTE, Alpha Bank, Titan, Motor Oil, Ethniki and Sarantis are moving slightly lower.
On the contrary, in positive territory are Terna Energy, Biohalco, Lambda, EYDAP, OPAP, GEK Terna, PPA and Quest, but none of them move above +1%, while without change are Coca Cola, Jumbo, Aegean and Elektor.