Electoral … downward adjustment by the stock market

Last updated 13:56

Alexandra Tombra

The Athens Stock Exchange is currently taking a loss, as the banking sector once again seems weak to manage election scenarios, which has almost pushed the entire market lower.

In particular, the general index recorded losses of 1.14% at 1023.90 units, while the turnover amounted to 34.5 million euros and the volume amounted to 12.4 million pieces. The FTSE 25 index also recorded a decline of 0.94% at 2479.52 points, while the banking index lost 1.34% at 745.15 points.

In the pre-election period…

The election date has finally been announced, as May 21 will be the day that confirms the continuation of the government or begins the exploratory period to form the government. AXA can only continue to accumulate until the electoral balances are diagnosed and a day after the first elections, which came after many years, after the exhaustion of nearly four years.

According to the estimates of most analysts, the positive scenario is expected to be accumulation at current levels, while the negative is expected to double to triple digits. To these scenarios should be added international uncertainty amid ongoing banking turmoil.

After all, the rating agencies confirmed, through their representatives at the Chamber of Commerce conference, that they want to see the continuation of the production and implementation of the current economic policy, until the improvement in the indicators of the Greek economy stabilizes. This election is at stake for Moody’s and Fitch, given that the debt ratio is in steady decline and the country’s financing needs are covered by cash reserves.

on the dashboard

On the board now, Elactor and Piraeus are posting losses of 3.10% and 3.08% respectively, while GEK Terna, Autohellas, Alpha Bank and PPC are down more than 2%. The decline in motor oil, Biohalco, Coca Cola, Aegean, ELHA, EYDAP, Quest and Ethniki exceeds 1%.

Titan, PPA, OTE, Mytileneos and Hellenic Petroleum declined slightly, while Eurobank, Lambda and OPAP stocks rose slightly. Sarantis rose 1.07%, with Terna Energy up 1.47%.