ATHEX – Cautious climate

The Greek stock market is moving slowly upwards today, which despite the pressures of securing profits that are reasonably manifested, manages in recent days to maintain the levels of 950 points, ie the high of seven years.

The general index gains 0.27% to 951.98 points, with the volume of turnover today expected to be affected by the holiday in the US.

Rating agency Fitch proceeded to upgrade the outlook of the Greek debt from “stable” to “positive”, which means that there will be an upgrade of the Greek economy in the next 12-18 months . An upgrade that the ATHEX was looking for before the outbreak of the pandemic, with most analysts estimating that the country’s return to the “investment grade” could be achieved in late 2022 or early 2023.

The ideal scenario

In such a context, while some profit-making is more or less expected, it will be important to evaluate its dynamics. Markets that after a long phase of accumulation achieve significantly high, is an important message for the course of the ATHEX. The ideal scenario now for the General Index will be the diffusion of market orders in as many securities as possible in order to avoid negative deviations.

The image on the board

In terms of securities, HELEX, OPAP, Piraeus Bank and Mytilineos gather the most market orders, while Ethniki, Alpha Bank, Jumbo, Eurobank and PPC are moving slightly upwards. On the other hand, Titan, Motor Oil, Hellenic Petroleum and OTE are in negative territory.