The stock market is correcting today

Today, the Athens stock exchange moves correctively, which after another series of five bullish meetings leaves room for sellers to encapsulate part of their profits, but without losing the levels of 860 units.

In particular, the General Index recorded losses of 0.43% at 860.10 points, while the turnover is at 4.7 million euros and the volume at 1.8 million pieces. The FTSE 25 also fell by 0.41%, at 2,080.07 points, while the banking index lost 0.70% at 548.05 points.

The positive tally may not be very large, but since July 15 the ASE has recorded just one bearish session, falling from 794 points to 860 points today. And this session was down just 0.13%, with the need to lock in profits intensifying and sentiment overseas remaining fragile.

Also, this course may have been accompanied by the recovery of the international markets, but the ASE showed “character” in this “half of July”, recording in the fortnight gains of more than 8% (+5% throughout the month). And as several domestic analysts comment, the short-term course could be better if the better-than-expected results announced by the major listed companies, with Alpha Bank and Piraeus expected today and tomorrow, are also added.

The market not only has the “corporate fuel” to rally towards 900 points, and certainly above the 200-day moving average at 866 points, but it also has the “privilege” (this time) of being in an economy that has gained development momentum. And that momentum may have slowed due to the well-known problems caused by the war in Ukraine, but it is on a better track than other Eurozone economies. Plus it also has the safety net of the European Central Bank, as can be seen in the de-escalation of Greek bond yields to 2.84% today.

On the dashboard

On the board now, Terna Energy is losing 2.52%, with Sarantis, EYDAP, PPC, Eurobank, Motor Oil and Piraeus following with losses of more than 1%. ELCHA, Hellenic Petroleum, Ethniki, Alpha Bank and Mytileneos are also close to -1%.

Lambda, OLP, ADMIE, Titan, Quest, Aegean, Coca Cola and Viochalco are moving slightly downwards, while on the opposite side, OPAP, OTE, Ellactor, GEK Terna and Jumbo are moving slightly upwards.