The stock market maintains profits, but worries remain

The Athens Stock Exchange is moving steadily upwards today, which, although receiving some pressure from selected stocks, manages to confirm its stay above 870 points.

In particular, the General Index records gains of 0.87% at 875.30 points, while the turnover is at 29 million euros and the volume at 13 million units. The FTSE 25 also recorded an increase of 0.94%, to 2,097.20 points, while the banking index gained 1.36% to 561.73 points.

The market is trying to improve its technical image, but has not yet solved the heavy bond of its pillars. Thus, although the general index is struggling to regain the significant level of 878 points, the FTSE 25 has in the first phase crossed the 2,085 points, which if it holds will stop the aggressive trend. Also, the banking index must cross the 563 points, if it wants to return to the zone of 585 points.

Although earlier the general index was at 878 points, when it recorded gains of 1.22%, the uncertainty about the real seriousness of the “omicron” mutation of Covid 19 led several portfolios to proceed with liquidations. With the current data, therefore, the breakdown of resistance seems to be still difficult, although the course of the pandemic still seems fluid.

Unhooking and waiting?

The question that now prevails in the market, as transferred to Capital.gr, is whether the domestic portfolios will gradually disengage from the market by the end of the year until the risk of a pandemic is reduced again. Expectations for a christmas rally / year – end rally have been significantly minimized, a scenario that if confirmed in practice in 2021 will have been marred by nine months of accumulation.

So any expectations are conveyed for the new year, when the estimates for the course of the pandemic are better. There will also be a better picture of financial performance, the tourist season and fiscal discipline. If the positive scenario is confirmed, it is not excluded that Greece will achieve the investment level, attracting more foreign capital.

Dashboard

On the board now, Mytilineos wins 3.03%, with ELHA, PPA and Coca Cola following with an increase of more than 2%. Ethniki, Alpha Bank, Piraeus, Hellenic Petroleum, Titan, Viohalko, Lambda, Jumbo and Ellactor are moving above + 1%, while OTE, Motor Oil, Eurobank and OPAP are moving slightly higher.

On the other hand, Sarantis loses 2.21%, with HELEX, EYDAP, Terna Energy and GEK Terna recording losses of more than 1%. PPC and Aegean are moving slightly downwards, with IPTO having no change.