ATHEX – The pressures on the Stock Exchange are under control

The general index of the Greek stock market is currently moving within a range of just over five points, which remains stuck between 900 – 905 points, with a low turnover. However, with minimal support, today from ELHA and Jumbo, it tries to keep the psychological limit of 900 units, remaining at 904 units with losses of 0.26%.

What worries the market the most is that the ATHEX is unable to change its prospect, at a time when there was strong performance in the GDP of the 2nd quarter, the price for DEPA Infrastructure exceeded expectations, the vote of confidence of the Macquarie fund for 49% of HEDNO surprised and the economy was upgraded by Scope Ratings. Against this backdrop, the government will implement another € 3.4 billion support package with tax breaks, which help improve the business environment towards a friendlier one.

On the other hand, the market is concerned about the reaction of central banks to the global wave of price increases, evidence that the international recovery is not moving smoothly and that the number of pandemic cases is a reminder that the health crisis continues.

So until the international environment is more supportive, the ATHEX, as a regional and shallow market, will not be able to go beyond higher levels, with the accumulation in the current ones being perceived as a positive sign. The rotation in the observed securities also helps in this accumulation, with ELHA and Jumbo today giving support with + 3.54% and + 2.40% that they record respectively, compensating the -2.26% of Aegean and -1.22% of Alpha Bank.

However, the negative signs recorded by OTE, Hellenic Petroleum, Eurobank, OPAP, Coca Cola and other 75 shares of the dashboard, affect the formation of the general index.