The stock market returned to the zone of 900 points

A breath of 900 points was found today on the Athens Stock Exchange, which, although it failed to raise its trading rates, at least managed to slightly improve its position, after four days of strong decline.

In particular, the general index closed with gains of 1.06% at 898.97 points, while today it moved between 891.58 points (+ 0.22%) and 899.17 points (+ 1.08%). The turnover amounted to 37.7 million euros and the volume to 11.8 million units, while 0.4 million units were traded through pre-agreed transactions.

The index of high capitalization closed with an increase of 1.17%, at 2,158.04 points, while at -0.12% Mid Cap completed the transactions at 1,533.92 points. The banking index closed with gains of 0.74% at 583.77 points.

The general index today managed to recover almost 1/3 of the lost ground of the four days, despite the fact that trading activity remained at very low levels, mainly due to the Thanksgiving holiday on Wall Street. The upward movement of European markets has also worked positively, although concerns about a new wave of pandemic outbreaks on the continent are not lacking. However, political developments in Germany, which after several weeks of negotiations has the first coalition government of the Social Democrats under Olaf Scholz. A lesser source of uncertainty always works for the benefit of the markets.

The effect of the holiday

However, once again the ATHEX confirmed that there are many orders coming from the other side of the Atlantic. The same thing happens on London holidays, with the turnover closing at low levels. Thus, the current picture can not lead to safe conclusions about whether the reaction had strong footholds on the board.

Of course, even in this context, even today there were analysts who believe that the Greek economy has positive prospects and the Greek stock market has significant values. Today it was Jefferies that upgraded its stance on the Greek market from moderate bullish to absolutely bullish. “Greece is doing the best it can”, he points out, expecting surprises in the economy in the whole of 2021, as it will move to the levels of 8% and much higher than the 5% previously predicted by Jefferies, almost offsetting the 2020 contraction.

Thus, the big λών complaint of many domestic portfolios remains that while foreign analysts as a whole pay homage to Greece, while maintaining a constructive attitude, the Greek market remains swamped at the same levels since April. And if this wave of pandemics continues at the same pace, the last month of the year is not expected to change the market picture for the better.

Dashboard

On the board now, Ellactor, Aegean and Motor Oil closed with profits exceeding 3%, while over 2% was the rise in Hellenic Petroleum, ELHA and OPAP. Over 1% was the increase in PPA, Viohalko, Ethniki, Mytilineos, IPTO, OTE, EYDAP, Alpha Bank and Coca Cola.

GEK Terna, Piraeus, Eurobank, Lambda, Titan, Jumbo and Sarantis closed slightly higher, while HELEX and PPC closed with losses of 0.27% and 0.31% respectively.

It is worth noting here that today the trading of the right for the capital increase of Attica Bank has started, which will last until December 3. The price of the right finally closed at 0.78 euros while the starting price was 33.35 euros. The share of Attica Bank recorded the second almost limit down, ie -29.55% at 0.6150 euros.