‘Triple’ support for the 920 units was received by the Stock Exchange

The Athens Stock Exchange closed with mild final gains today, far from the highs of the day, as although it tried to move to 930 points, in the end the pressures on selected stocks did not allow a better closing.

In particular, the General Index closed with gains of 0.57% at 923.07 points, while today it moved between 920.30 points (+ 0.26%) and 927.67 points (+1.07). The turnover amounted to 70.8 million euros and the volume to 27.5 million units, while 2.5 million units were traded through pre-agreed transactions.

The high capitalization index also closed with an increase of 0.57%, at 2,224.80 points, while at + 0.11% Mid Cap completed the transactions at 1,517.16 points. The banking index closed with gains of 1.49% at 609.37 points.

Despite the ambitious efforts of the banking sector, OTE and PPC, the ATHEX was not able to bypass the sellers who made their presence felt in several securities as the current meeting progressed. In fact, the pressures targeted index-heavy stocks, such as Coca Cola, eventually stopping the market from moving towards the resistance of 930 points.

Thus, for another session, although the resistance of the General Index is located at the level of 930 – 931 points, the market seemed to have difficulty at 920 points, which coincided with the strong turmoil of the rebalancing of the PPC share. But even today when the “tails” of rebalancing are exhausted, the weakness in the levels is obvious.

Pandemic and evaluation

What also worries the market is whether the country’s epidemiological picture, which is on the rise, will affect tomorrow’s assessment by Moody’s. The outlook on the budget front is positive, as the estimate for the growth rate is constantly revised upwards, but whether the 4th wave of the pandemic can affect the critical festive period is still uncertain. So the landscape blurs more and more as winter progresses, as measures, and sometimes lockdowns, return to many countries to control the 4th wave in the community. And unfortunately Greece is no different from this “landscape” with the pressures on the health system increasing and the government staff looking for ways to curb this wave.

However, expectations remain moderately optimistic for tomorrow’s assessment, given that today Moody’s, in a different report, confirmed that Greece will continue to have a very high level of debt to GDP, but will record the largest decline in 2022, with the significant impetus to the growth that the resources of the Recovery Fund will give from now until 2017, to help in the further and gradual fall of the debt.

On the dashboard

On the board now, the “trio” of OTE, PPC and Alpha Bank, with their more than 2% profits absorbed significant pressures from the fall of the majority of ATHEX securities, while more than + 1% closed Piraeus, Aegean, Eurobank , HELEX and Terna Energy. GEK Terna, Viohalko, EYDAP, Ethniki and ELHA closed slightly higher.

On the other hand, Hellenic Petroleum and Jumbo closed with losses of 1.26% and 1.18% respectively, with OPAP, PPA, Motor Oil, Coca Cola, Titan, Lambda, Mytilineos, IPTO and Sarantis closing with small losses. Ellactor closed without change.