ATHEX – Fall under the weight of PPC

The Greek stock market is currently trying to keep under control the pressures it receives from the PPC share, which although it landed “abnormally” at 870 points in the first minutes of the session, at this time the General Index is returning to the zone of 880 points.

Of course, with the share of PPC at -10.92%, the prospects, at least for today, are anything but encouraging, although there is no lack of support from several high-capitalization securities.

Clearly, the developments around the increase of PPC’s capital by 750 million euros will occupy the market in the near future, with the first comments of analysts on ot.gr stating that although there will be turmoil in both the title and the market, in the long run The entry of private investors in the share capital will bring liquidity to the company, in order to carry out the huge investment program.

Also, the process may be characterized as a historical milestone, on the one hand because the State will lose 51%, for the first time in the history of the company, and on the other hand because, in theory, its lignite footprint will be zeroed.

Even after today’s data, the image of the ATHEX is again negative, being more than 30 points away from its recent highs and with an international environment mined by significant sources of uncertainty. And all this while foreigners remain firmly focused on the Evergrande issue, while central banks are looking at how to fold out of their loose monetary policies.

The image on the board

In terms of securities now, in addition to PPC, GEK Terna and Ethniki record losses of 2.17% and 2.35% respectively, while Mytilineos, Eurobank, OPAP and Coca Cola are also under great pressure. Viohalko with + 1.62% and Alpha Bank with + 0.77% that record are trying to offer some support, but the climate is not positive.