ATHEX: Trying to build defenses

The Greek stock market is currently struggling to stay at 850 points, which, although it has the most index shares under suffocating pressure, is trying with the help of OTE, now the first in the capitalization on the board, to maintain some support.

In particular, the General Index recorded losses of 2.43% at 845.39 points, with the turnover already approaching 100 million euros, indicating that sellers are closing fast positions that may involve risk. And “possibly” is an option used by many analysts these days, as nothing is certain about how certain titles could be affected by Western sanctions on Russia.

However, the first major impact, which will affect the already worrying rate of inflation, is the impact of energy costs on the consumer price index. Not only in Greece, but also in the whole of Europe. After all, according to data released by Eurostat, inflation in the Eurozone rose to 5.8% from 5.1% last month and more than 5.6% of the average estimate of economists surveyed by Bloomberg. The estimate for Greece reports inflation of 6.3%.

In such a context, PPC loses 8.12% and Coca Cola is at -7.78%, while Eurobank, Aegean, National Bank, Viohalko, Alpha Bank, Titan, Motor Oil and Hellenic Petroleum, follow with significant losses. On the other hand, Jumbo, Ellactor, OTE and Sarantis are moving in positive territory.