chosen props found today (27/6) the Stock Exchange of Athens with buyers to regain the lead of salespeople in an effort to get the General Index of 1,400 units.
Of course, the RENEWAL and the nervousness still plays an important role in investment psychologybetween the absence of domestic catalysts and the perception of The French election was on Sunday.
So, the 1400 units continue to make mainstayat the same time that the Greek market was folded in 6.5% from the recent high of 1,502 units.
In this context, the General Index little notes to 0.23% and formed by 1,409.49 unitsgained about 3.5 points from Wednesday’s close (1,406.24 points).
the arc of diurnal variations more than seven units (from 1,403.78 to 1,411.17 units), with transaction turnover in the range of 47 million eurosof which 15.9 million euros concern the agreed packages.
On the board, now, the banks are at the center of investment interest, with National and Piraeus to recover about 2%. From the other side, Eurobank and Optima Bank withdrawal of at least 1%.
Banks’ reaction
With the correction from this year’s peaks exceeding 10%, the bank index is trying to put a “brake” on the losses, thus reacting to + 0.87% and 1,217 units.
His stock Piraeus recovered + 2.27% and 3.426 euros, its share National its share increased to +1.78% and 7,764 euros Alpha Bank increased to + 0.48% and 1,473 euros, while its share Eurobank folded to -1.39% and 2.056 euros.
The image of the dashboard
In the high-cap index (+ 0.37% and 3,418 points), its share Jumbo strengthened by + 1% and 26.8 euros, while the shares of Cenergy, Aegean and Airport is Athens International Airport earn more than 1%. His stock ELECTORS, trying to approach the limit of 2.5 euros (+ 0.8%). On the contrary, its part Viohalco limited to -0.8% and 5.7 euros, with its share Motor Oil which will lose 1% and times 23.6 euros.
Regarding the mid-cap index (-0.71% and 2,241 points), the stock of Optima Bank stands negative at -1.7% and 12.3 euros, which corrects from the recent high period of all. The parts of Technical Olympia, Search and Profile limited to at least 1%. However, its stock Lavipharm jumped to + 3% and 0.83 euros. THE Cree – Cree it follows + 1.3% and 11 euros.
Overall in the stock market, 44 stocks advanced, 57 stocks declined, while 16 stocks were unchanged. THE capital in the market ranges of 98.2 billion euros.
Why did the market fall?
There are only two meetings left until the end of June and the first half of the year at the Athens Stock Exchange, which is now called to protect the precious. support of 1,400 units.
There have been three consecutive bearish sessions, not excluding that the negative climate will “test” the strength of the critical limits, which remain not later than April 19, that is, for at least two months.
Any loss of 1,400 units, according to analysts, would bring forward a share of 1,380 – 1,360 unitson the other hand the average of the last 200 days (1,339 points), which is related to the long-term trend.
On the other hand, 1,460 points still constitute the main resistance of the General Index, which is adown -6.5% from this year’s high of 1,502 points (closing May 20).
As for the reasons for the ongoing collapse of the Athens Stock Exchange, the explanation has to do with a combination of negative developments, affecting the short-term climate.
The imposition of extraordinary taxes on refineries, the government’s pressure on banks on the issue of fees and the scenarios for the possible intervention of the Ministry of Finance, the absence of positive catalysts, the cut of the following -subsequent dividends, the AA is not a member of MSCI’s watch list and of course, the height of political drama in France ahead of the first round of parliamentary elections on Sunday.
All this limits him investment visibility and has a “cut” risk-taking objective for traders. So the short-term downtrend of GD, which in the last 30 days lost -5%, fell below + 9% yield from early 2024.
However, this refolding has created attractive entry points for many stocks, especially this one High Capitalizationwhich under certain conditions can be used by investors, offering selected supports.
At the same time, the end of the semester provides an opportunity to reorganize beautifying portfolios (window dressing), something that usually happens in those periods of time.
Losses abroad
Abroad, today, nervousness and anxiety remain a dominant feature in Europe, resulting in the overall index Stoxx 600 to move by -0.17% and 513 points. The index CAC 40 in Paris, at the same time, it lost 0.4%
On the other side of the Atlantic, after a strong close last night, futures are now on Wall Street portend slightly negative changes for the main indicators, with S&P 500 to remain, however, at a breathing distance from 5,500 units.