Athens Stock Exchange: Playing defense at 890 points

The Greek stock market is moving with losses today, continuing the corrective course that started yesterday and was interrupted by the buyers of specific titles.

The general index is currently moving with losses of 0.46% to 890.30 points, with the turnover still at low levels.

The market is also monitoring the international climate, as due to the lack of a domestic catalyst it takes the tone from the processes taking place in Europe to deal with the energy crisis. It is also affected by the latest data provided by the Federal Reserve through the minutes of the last meeting, as its guidance affects international money flows.

Looking at the ECB

And based on the above, the focus remains on the proceedings in Frankfurt and the European Central Bank, with analysts betting on a rate hike of 25-50 basis points in September. The situation is further complicated for the ECB, as the interest rate hikes come just as a recession caused by rising oil prices looms menacingly over the eurozone.

On the board

In such a context, PPC loses 2.03%, with Ellactor, Eurobank, Mytilene, Piraeus, Hellenic Petroleum and PPA following with significant losses. Motor Oil, Alpha Bank, ADMIE, National Bank, ELHA, OTE, Quest and Lambda are also in negative territory. On the other hand, Terna Energy and GEK Terna are making significant gains.