A sudden shift into positive territory for the stock market

Written by Alexandra Tombra

In reversing yesterday’s trend, from -1.13%, the Athens Stock Exchange is now moving into positive territory, as buyers have “woke up” again, especially in the banking sector.

In particular, the general index recorded gains of 0.40% at 1,255.57 points, while the value of trades reached 51 million euros and the trading volume reached 12 million pieces. The FTSE 25 index recorded an increase of 0.72% at 3048.12 points, while the banking index recorded a gain of 2.23% at 986.86 points.

For strong nerves..

The investment grade may have come to test the market’s nerves, as the changes in the direction of the Amman Stock Exchange yesterday occurred within a few minutes, with significant fluctuations in reality. So, after yesterday’s violent bearish shift in banks, today’s violent shift to the upside has come, with the sector up +1.9% from -1.6% previously.

As a stock exchange source commented on Capital.gr, these days we will witness several “shootings” in the market, with the current incident related to the first messages the government receives from Brussels regarding aid for natural disasters. The country suffered. In such an environment, there are quite a few who believe that the September correction so far has created some buying opportunities, which constitute a good entry base in the medium to long term.

It is worth noting that Prime Minister K. Mitsotakis met today with Commission President O. von der Leyen, on the issue of supporting Greece in confronting the consequences of recent natural disasters caused by floods and fires. As the President of the Commission indicated, the amount to be provided to Greece will exceed 2.2 billion euros, while resources will also be allocated from the European Solidarity Fund. In 2024, up to 400 million euros could be provided from there.

On the dashboard

On the board now, Alpha Bank is gaining 3.12%, with National Bank +2.92%, while Piraeus, Coca-Cola, Eurobank and Mytileneus are up more than 1%. Hellenic Petroleum, Lambda, EYDAP, Terna Energy and ELHA are moving slightly higher.

On the other hand, Jumbo, Autohellas, and Synergy recorded losses of more than 1%, while shares of GEK Terna, OTE, Titan, Ellaktor, Motor Oil, OPAP, and Viohalco fell slightly. Unchanged are Sarantis, Aegean, Quest and PPC.