ΑΤΗΕΧ: “Surging” to 890 points

With its index stocks leading and the rest of the board helping, the Greek stock market managed not only to close with significant gains through critical technical resistance, but also to close above the 200-day moving average, thus giving the message that the positive message has not been undone. In particular, the general index closed with gains of 3.16% at 889.25 points, with a turnover of 88 million euros.

As of yesterday, the ATHEX shows a willingness to leave behind a “difficult” March and close the gap of monthly losses, as now there is only a small part left to manage in order to reverse the negative sign. Also, the general index penetrated the 200-day fluctuating index, at 885 units, the breakthrough of which negates any open positions that existed, since the market trend will change again for the better.

Helping in this effort is the European climate, which is influenced by Russian-Ukrainian relations, with some signs today showing that the two sides may be in front of a peace agreement. Of course, what remains to be seen is whether the buying moves are reversed by some negative developments, given that most portfolios are more short-term until there is a clearer picture of the war in Ukraine.

However, in the long run, not much has changed in the ATHEX, despite the war in Ukraine and the energy crisis, as most analysts continue to give a “vote of confidence” to the Greek economy, while banks, construction and the IT sector have stolen the show. After all, as has been pointed out by most analysts, the Recovery Fund could lead to strong growth of the Greek economy, improving the prospects of Greek listed companies.

In terms of securities now, PPC stood out with + 6.44%, as did Eurobank, Alpha Bank and Motor Oil with their profits of more than 5%. The rise was also strong in National Bank, Coca Cola, OTE, Mytilineos, Piraeus, ELHA and Titan. However, trading interest once again focused on the four systemic banks.