ATHEX – Mired in quicksand

The Greek stock exchange is currently trying to stay in touch with the 860 point mark and in any case not to test the levels of the 200-day fluctuation, which, although it remains trapped in the negative international climate, is trying to activate its supports in order to control its fall. Thus, while it even fell by -1.33%, at this time it has reduced losses close to 0.17%, hovering at 863 points.

Of course, this does not mean that ATHEX could be completely cut off from the international climate, especially when the critical data on the course of inflation in the Eurozone are expected, which contribute to the formation of the monetary policy mix by the European Central Bank.  After all, the levels of buyer confidence are still at very low levels, even at the Exchange, which is significantly vulnerable to any international unrest.

In such a fragile environment, the stay of capital in large positions is short-lived, with the optimists betting that liquidity remains and is not removed, depriving it of significant levels of trading. Especially after the big recent fall, which has created very attractive entry levels in several titles.

At the level of securities now, the pressures on Aegean, National Bank, Piraeus Bank and Ellactor are determining the negative sign of the index, but there is no lack of support from the positive sign on IPTO, Mytilineo, OTE, PPC, Alpha Bank and Jumbo. The contribution of Coca Cola, Eurobank and Hellenic Petroleum is still neutral.