The Athens Stock Exchange closed with significant gains today, following the recovery of international markets, as concerns about the course of the new coronavirus mutation have begun to de-escalate, though not to evaporate.
In particular, the General Index closed with an increase of 1.44% to 871.34 points, while it moved between 863.98 points (+ 0.59%) and 875.48 points (+ 1.93%). The turnover amounted to 68.2 million euros and the volume to 30.1 million units, while through pre-agreed transactions 3 million units were traded.
The index of high capitalization closed with gains of 1.45%, at 2,088.37 points, while at + 2.27% Mid Cap completed the transactions at 1,497.41 points. The banking index closed with an increase of 2.46% to 559.81 points.
Today was the penultimate day of the month when foreigners close their books and there was an attempt to improve valuations after Friday’s sell-off. As Elias Zacharakis of Fast Finance points out, the pandemic still seems to need time to cycle and unfortunately the data is coming out day by day. The fear of a new lockdown along with any side effects on the economies and combined with the high returns, especially in foreign markets, gave the result we saw last week.
However, although what domestic analysts point out is that the market closes 8 months of accumulation within a limit of 100 points, trying at least not to try the bottom of the accumulation again, according to Eurobank Equities, any correction is significant investment opportunity for the Stock Exchange, as the valuations of Greek shares are attractive and continue to be an impressive story.
Towards the end of December
Now, the day after the end of November will be influenced by the scientific data for the new “Omicron” strain of the pandemic virus, as it will determine the next moves of the government on the front of Covid-19, if required. The government is waiting, together with the experts, for the analysis of the profile of the new mutation, which will show whether new interventions will be required for a health-safe Christmas. And what remains as a fixed point on the horizon is the signaling in all tones that executives that the country will not enter a new lockdown.
Until then, the market will not want to try the large support of 853 units, the breakdown of which could lead directly to 830 units. A reaction from the level in the range of 875-880 units can come without this meaning anything to change the main trend. The move we saw gives us even greater delays in the technical picture for the positive scenario, while the significant support of the levels is also at stake.
On the dashboard
On the board now, Ellaktoras closed with gains of 4.65%, with HELEX, Viohalco, Alpha Bank and Mytilineos following with an increase of more than 3%. Titan, Aegean and Ethniki moved above + 2%.
Profits in Piraeus, PPC, Jumbo, Eurobank, IPTO, Sarantis and ELHA exceeded 1%, while OTE, OPAP, PPA, EYDAP, Lambda, Motor Oil, Hellenic Petroleum and GEK Terna moved slightly higher. Terna Energy closed unchanged, while Coca Cola fell 0.92%.
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With a ‘jump’ the Stock Exchange recovered 870 points
The Athens Stock Exchange closed with significant gains today, following the recovery of international markets, as concerns about the course of the new coronavirus mutation have begun to de-escalate, though not to evaporate.
In particular, the General Index closed with an increase of 1.44% to 871.34 points, while it moved between 863.98 points (+ 0.59%) and 875.48 points (+ 1.93%). The turnover amounted to 68.2 million euros and the volume to 30.1 million units, while through pre-agreed transactions 3 million units were traded.
The index of high capitalization closed with gains of 1.45%, at 2,088.37 points, while at + 2.27% Mid Cap completed the transactions at 1,497.41 points. The banking index closed with an increase of 2.46% to 559.81 points.
Today was the penultimate day of the month when foreigners close their books and there was an attempt to improve valuations after Friday’s sell-off. As Elias Zacharakis of Fast Finance points out, the pandemic still seems to need time to cycle and unfortunately the data is coming out day by day. The fear of a new lockdown along with any side effects on the economies and combined with the high returns, especially in foreign markets, gave the result we saw last week.
However, although what domestic analysts point out is that the market closes 8 months of accumulation within a limit of 100 points, trying at least not to try the bottom of the accumulation again, according to Eurobank Equities, any correction is significant investment opportunity for the Stock Exchange, as the valuations of Greek shares are attractive and continue to be an impressive story.
Towards the end of December
Now, the day after the end of November will be influenced by the scientific data for the new “Omicron” strain of the pandemic virus, as it will determine the next moves of the government on the front of Covid-19, if required. The government is waiting, together with the experts, for the analysis of the profile of the new mutation, which will show whether new interventions will be required for a health-safe Christmas. And what remains as a fixed point on the horizon is the signaling in all tones that executives that the country will not enter a new lockdown.
Until then, the market will not want to try the large support of 853 units, the breakdown of which could lead directly to 830 units. A reaction from the level in the range of 875-880 units can come without this meaning anything to change the main trend. The move we saw gives us even greater delays in the technical picture for the positive scenario, while the significant support of the levels is also at stake.
On the dashboard
On the board now, Ellaktoras closed with gains of 4.65%, with HELEX, Viohalco, Alpha Bank and Mytilineos following with an increase of more than 3%. Titan, Aegean and Ethniki moved above + 2%.
Profits in Piraeus, PPC, Jumbo, Eurobank, IPTO, Sarantis and ELHA exceeded 1%, while OTE, OPAP, PPA, EYDAP, Lambda, Motor Oil, Hellenic Petroleum and GEK Terna moved slightly higher. Terna Energy closed unchanged, while Coca Cola fell 0.92%.
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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.
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