ATHEX – PPC shows the way to recovery

Led by PPC, but also the majority of its titles, the Greek stock market seems to overcome the morning uncertainty and move with small but satisfactory gains, in an effort to confirm the recapture of 870 points. Variability is not lacking today, despite the negativity of the international climate, however the selective moves so far are positive.

The general index is moving with gains of 0.65% to 876.76 points, having PPC leading with significant gains. A stock that will monopolize the interest this month, as the capital increase will be in the spotlight for several days. It is reminded here that the decision for a share capital increase is expected to be approved by the extraordinary General Meeting of the company’s shareholders on October 19. The book building process will start by the end of October and the pricing will be announced. The trading of the new shares is expected to start in early November.

In the meantime, what is expected today in the market is the preliminary draft budget, as well as the forecasts for the course of the economy, both in 2021 and 2022. According to the Budget Council, the estimate of the preliminary draft that the real GDP the year 2021 will be 6.1% rated as realistic, although it deviates significantly from the estimates of other international organizations. At the same time, the forecast for 2022 stands at 4.5%, a goal that, according to the report of the Financial Council, is achievable.

In such a context, PPC stands out with the + 2.12% it records, with ELHA, Saranti, Lambda, Terna Energy and Eurobank following with an increase of more than 1%. The contribution of Viohalko, Ethniki, Mytilineos, Alpha Bank, OTE, OPA, Coca Cola and others is also positive.