Concerns have returned to the Athens Stock Exchange this time, as the latest inflation data reignited fears that the European Central Bank will move ahead with more aggressive policy tightening moves.
In particular, the General Index registers a drop of 0.61% to 805.51 units, while the turnover is at 30 million euros and the volume at 9 million pieces. Losses of 0.46% were recorded by the FTSE 25, at 1,933.69 points, while the banking index fell by 0.69% at 494.34 points.
The latest data on consumer prices disappointed the market, as Eurozone inflation came in at 8.6% in June, up from 8.1% in May and higher than estimates of 8.4%. And this means that the ECB will have to take immediate decisions to control inflationary pressures, which will also lead to an increase in borrowing costs.
The ECB, however, has a difficult – if not impossible – equation, as it tries on the one hand to contain the 4-decade high inflation and on the other hand to stimulate the pace of global economic growth, with the first “recessionary Cassandras” coming to the fore. So until the growth/inflation mix improves, markets are likely to remain volatile as investors turn from inflation concerns to recession fears.
As long as the markets expect an increase in borrowing costs, combined with a slowdown in economic activity, buying movements will be cautious, as the outlook will be more conservative. After all, the rise in interest costs for listed companies raises the bar for the objectives of mixed corporate profitability, in order to achieve the servicing of the repayment of new bond issues.
Dashboard
On the board now, OTE is losing 3.44%, due to a dividend cut, with PPC, Eurobank, Titan, Sarantis, Piraeus and PPA following with losses of more than 1%. Mytileneos, Jumbo, EYDAP, ADMIE, Hellenic Petroleum, Terna Energy, Biohalco, Quest, Aegean and Ethniki are moving slightly lower.
On the contrary, Coca Cola supports the market with +2.64%, while GEK Terna and ELHA follow with a rise of 1.40% and 1.06% respectively. Motor Oil, OPAP, Lambda and Alpha Bank are moving slightly upwards. Ellaktor is unchanged.
The Stock Market slides towards 800 units
Concerns have returned to the Athens Stock Exchange this time, as the latest inflation data reignited fears that the European Central Bank will move ahead with more aggressive policy tightening moves.
In particular, the General Index registers a drop of 0.61% to 805.51 units, while the turnover is at 30 million euros and the volume at 9 million pieces. Losses of 0.46% were recorded by the FTSE 25, at 1,933.69 points, while the banking index fell by 0.69% at 494.34 points.
The latest data on consumer prices disappointed the market, as Eurozone inflation came in at 8.6% in June, up from 8.1% in May and higher than estimates of 8.4%. And this means that the ECB will have to take immediate decisions to control inflationary pressures, which will also lead to an increase in borrowing costs.
The ECB, however, has a difficult – if not impossible – equation, as it tries on the one hand to contain the 4-decade high inflation and on the other hand to stimulate the pace of global economic growth, with the first “recessionary Cassandras” coming to the fore. So until the growth/inflation mix improves, markets are likely to remain volatile as investors turn from inflation concerns to recession fears.
As long as the markets expect an increase in borrowing costs, combined with a slowdown in economic activity, buying movements will be cautious, as the outlook will be more conservative. After all, the rise in interest costs for listed companies raises the bar for the objectives of mixed corporate profitability, in order to achieve the servicing of the repayment of new bond issues.
Dashboard
On the board now, OTE is losing 3.44%, due to a dividend cut, with PPC, Eurobank, Titan, Sarantis, Piraeus and PPA following with losses of more than 1%. Mytileneos, Jumbo, EYDAP, ADMIE, Hellenic Petroleum, Terna Energy, Biohalco, Quest, Aegean and Ethniki are moving slightly lower.
On the contrary, Coca Cola supports the market with +2.64%, while GEK Terna and ELHA follow with a rise of 1.40% and 1.06% respectively. Motor Oil, OPAP, Lambda and Alpha Bank are moving slightly upwards. Ellaktor is unchanged.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
You may also like
Young Entrepreneurs Sending Gifts To Their Generous Supporters!
The Beauty and Personal Care products company, which was established by a group of young people in Florida State of
The hacker returned the GMX exchange of crypto -acting for $ 37.5 million
The GMX crypto -foam security team, previously injured from hacking, announced the return of part of the stolen digital assets
Riccardo Boni, who died buried in a sand hole. The father: “He didn’t have time to shout”
“They were digging a hole for fun. I kept them at sighttwo to three meters, but I didn’t notice anything
Iran: Man was executed by hanging for rape and murder of little girl
Iranian justice has announced that it hanged today a man who was found guilty of rape and murder of a
Tether will stop supporting USDT on five blocks
Tether, the issuer of the largest USDT stabilcoin, announced the termination of support for stablecoins on the OMNI blockchains, Bitcoin
Air India Crash: Find
A few seconds after take -off and before the Air India aircraft crash last month, the fuel to the two
Oasis, the return to Manchester and the “photo of the century” of the children of Noel and Liam
Calling him concert would be an understatement. The story of two brothers who forgive themselves and they come back to
Get the latest
Stay Informed: Get the Latest Updates and Insights
Most popular
Young Entrepreneurs Sending Gifts To Their Generous Supporters!
The hacker returned the GMX exchange of crypto -acting for $ 37.5 million
Riccardo Boni, who died buried in a sand hole. The father: “He didn’t have time to shout”
Iran: Man was executed by hanging for rape and murder of little girl
Tether will stop supporting USDT on five blocks