Without turnover the reaction on the Stock Exchange

of Alexandra Tombra

Today, the Athens stock exchange is trying to recover the levels of 850 units, with most of its titles moving positively but the turnover is fixed reflecting the caution of the buyers.

In particular, the General Index registers gains of 0.76% at 849.61 units, while the turnover is at 2.3 million euros and the volume at 0.8 million pieces. An increase of 0.89% was recorded by the FTSE 25, at 2,046.25 points, while the banking index gained 0.98% at 550.74 points.

The market’s bid to react today is weak as the thorn of low turnover remains and proves that buyers are unwilling to take initiatives that involve risk. And as a stock exchange source comments on Capital.gr, if today’s reaction is not accompanied by an increase in turnover, then serious questions are raised about its sustainability as well as its duration.

The also big problem in the short term is that the market lacks any catalyst to act supportively at levels and defensively against international uncertainty. Even on a political level, the market seems to be cautious in view of the presence of the Prime Minister at the Thessaloniki Exhibition (TIF) on September 11, i.e. next weekend.

And the above, in addition to the loss of 50 points they have already caused in the general index since last Friday, have also led the yield of the Greek ten-year bond to the level of 4.20%, bringing closer the activation of the new mechanism of European Central Bank against monetization in the Eurozone. And under the terms of activation, the country will enter a new regime of milestones and targets so that it can enjoy this safety net.

On the dashboard

On the board now, PPC is gaining 2.23%, with Biochalco, OTE, Alpha Bank, Mytileneo, Aegean and ADMIE following with an increase of more than 1%. Eurobank, Piraeus, OPAP, Sarantis, Jumbo and Lambda are also close to +1%.

Titan, Ellaktor, ELHA, PPA, Coca Cola, GEK Terna, Terna Energieaki and Ethniki are also moving slightly upwards. Quest and Hellenic Petroleum are unchanged, while Motor Oil and EYDAP are slightly down.