Weak reaction on the Stock Exchange is weak

of Alexandra Tombra

The Athens Stock Exchange finally remained in the zone of 920 – 925 points, which although moved even to 930 points, eventually folded as the risks triggered by the recent sell off still exist and hinder purchasing power.

In particular, the general index closed with an increase of 0.71% to 925.07 points, while today it moved between 932.99 points (+ 1.57%) and 921.75 points (+ 0.35%). The turnover amounted to 73.02 million euros and the volume to 21.02 million units, while 323 thousand units were traded through pre-agreed transactions.

The high capitalization index closed with an increase of 0.62%, at 2,244.45 points, while at + 0.34% Mid Cap completed the transactions at 1,506.24 points. The banking index closed with losses of 0.43% at 652.27 points.

Although it tried to react to the 930 points, eventually with the negative turn of several index stocks, the ATHEX failed to make the recovery and undo the short-term downturn channel it has entered, as operating in an extremely difficult international environment requires strong forces which for the time being remain inactive.

After all, a comparison of trading activity in yesterday’s dive and in today’s rise is enough to confirm how limited the reaction was and how high the degree of risk is. This is because the problems that have been created in the energy market due to the recent decisions of Moscow remain and probably affect Greece as well.

In this context, stagnation after the first two-month growth trajectory, even with the April recovery, is a situation that should be addressed by domestic portfolios, especially as long as the causes persist. In fact, the side effects of the Russian war in Ukraine, with the supply of natural gas being the largest, can not leave the Greek economy unaffected, something that can already be seen from the declining revisions of analysts’ estimates.

No one should forget that the ATHEX should gradually integrate the lower than initially expected growth of the Greek economy, as most analysts now estimate. UBS today reduced its growth forecast for Greece to 4.0% from 5.5% previously, as it acknowledges, as it points out, the opposite winds that the economy is facing due to the effects of the war on Ukraine, however, with the bank maintaining its constructive stance on the country’s prospects due to four factors.

On the board

On the board now, Terna Energy stood out with the + 3.21% it recorded, with GEK Terna and Sarantis following with gains of 2.58% and 2.10% respectively. The increase in Motor Oil, OTE, Coca Cola, OPAP, ELHA and Mytilineos was over 1%, while Eurobank, Ellactor, Quest, Jumbo, PPA, EYDAP and Lambda closed slightly higher.

On the other hand, Ethniki closed with losses of 1.65%, while intra-conference it moved in positive territory, with Alpha Bank, Titan, PPC, Viohalko and IPTO following with small losses. Piraeus, Hellenic Petroleum and Aegean closed unchanged.