his third consecutive negative session finished today (17/6) the Stock Exchange of Athens, with dealers holding the reins, leading the General Index at new two-month low.
In fact, intra-sessionally, the Greek market is below it psychological limit of 1,400 units, something that causes immediate reaction of buyers, preventing (for now) the loss of critical levels.
In any case, however, political uncertainty in France more challenging Trigmos of Athenswhich is difficult to be independent and to differentiate, in spite of positive news at listed levels.
Stock market: The critical Thursday and the European… splint
More specifically, during today’s session, the General Index records the news less than 0.20% and formed by 1,404.11 unitslost nearly three points from Friday’s close (1,406.91 points).
the arc of diurnal variations set at 24 units (from 1,395.06 to 1,419.49 units), with transaction turnover in the range of 86 million eurosof which 3 million euros related to pre-agreed packages.
Papathanasiou: The sirens for a deal, the drop in profits and the loss of 30 million euros for the “patriarch” of chemicals
In front is 1,400 units
The upward movement of the Athens Stock Exchange seems to have entered a “shelter” recently, with the General Index testing the strength of 1,400 units –for the first time since April 19.
The result of recent Euro-electionswithout a doubt, there is an important role in this process, because the Greek market finds it noticeably difficult to stand and distinguish itself from the nervousness, which characterizes – and possibly continues the behavior – throughout Europe.
At the same time, we see some investors taking advantage of the opportunity liquidation about the strong gains in recent months, continued assimilation and “digest» at recent multi-year highs.
Despite the -6.5% from the recent high of 1,502 unitshowever, the General Index still shows a very satisfactory return of 9% in 2024, with banks, which next month will “cut” the first dividends, showing almost double the performance (+ 17% since the beginning of the year).
Considering all this, it is considered very critical to defend the General Index support of 1,400 unitswhich consists of main embankment before the average of the last 200 days (1,339 points).
Stock market: The “secret” rally of EN.A. – Stocks with a return of more than 100%
At this point, it is worth noting that June 20 the market should be officially notified when the house MSCI show mercy to Greece and put the Stock Exchange on the watch list if possible upgrade in developed markets in depth of 12-24 months. This is one of the main goals of HEXA, which, if achieved, is sure to change the situation greatly – for the better, of course.
In a possible upward move, therefore, the first point of resistance can be seen at 1,460, any collapse paving the way for 1,485 – 1,502 unitswhich is the highest level in 2024 and in the last 13 years.
This Friday, the restructuring at the points of FTSE and Russellwhich traditionally takes turnover.
Stagnation in Europe, Wall
Abroad, today, after the big losses last week, the pan-European Stoxx 600 trying to stabilize 511 units, they show margin changes. On the other hand, the index rose to + 0.7% CAC 40 in Paris.
On the other side of the Atlantic, where investor sentiment was characterized by euphoria, American indices showed small losses of up to 0.2%. Despite all this, Mr S&P 500 continues to “fly” at historically high levels, remaining above 5,400 units.
On the Stock Exchange Dashboard: 16 years of Eurobank and the dividends of HEXA & Ellaktor