Athens Stock Exchange: Playing defense

The sign is also negative today in the Greek stock market, which is in a defensive stance for the second consecutive session, allowing the consolidation of profits. The general index lost 0.36% dropping to 1,107.16 points with a turnover of 7 million euros.

If one excludes the 10.6 million shares that were traded in MIG stock since the divestment of the Iliopoulos scheme, then the rest of the market picture points more to a wait-and-see stance with minor profit-taking and less to an investor fold from potential risks.

It is clear that the market has more or less discounted a positive scenario in the coming weeks, both on the S&P announcement front on Friday and the election result. Technically, the zone of 1,120-1,125 is resistance, while the essential first support is the zone of 1,103-1,105 units.

At the level of securities now, the pressures are increased on GEK Terna, Jumbo, Terna Energy, Autohellas and PPC, while in negative territory are also Titan, Biohalco, Saranti, Mytilineo, Ellaktor, Aegean, National Bank, EYDAP, Coca Cola, Lambda and PPA. On the other hand, OTE, OPAP, Motor Oil, Piraeus, Hellenic Petroleum, Alpha Bank and Eurobank are moving positively.