Athens Stock Exchange: Pressured by the banks

The Greek stock market is currently in negative territory, and although it tried to react towards 1,080 units, bank losses ultimately pin it lower. The general index recorded losses of 0.44% at 1,073.98 points, with the turnover at 55 million euros.

The main market catalyst throughout this time is the political side. Thus, as long as the ASE was discounting a solid result, share prices were steadily rising. The opposite, however, will happen if things change significantly, mainly due to the instability that has arisen in recent days regarding the possible undecidedness of a portion of voters.

Positive signs

However, the positive thing is that the support of 1,060 units has worked so far. A level that now refers to the local low (ind. 1059.83), and a pivot in any attempt for new liquidations, in the shadow of the political uncertainty that was strengthened due to the sad accident in Tempi. From this axis there are two paths: The negative one, with a new downward wave towards 970 units, and the positive one aiming at 1250 units over time.

At the level of securities now, Alpha Bank, National Bank, OTE, ELLactor, GEK Terna, Quest and Autohellas are leading the decline, while Sarantis, Titan, Mytileneos, ELHA, Lambda, Piraeus, Eurobank, EYDAP and OPAP are also in negative territory. Support comes, on the other hand, from Jumbo’s +4.50%, but also to the positive sign of Aegean, Hellenic Petroleum, PPC, Coca Cola, Motor Oil, Biohalco and PPA.