ATHEX: Buyers are taking the lead

The Greek stock market is currently climbing to the level of 890 points, which although it finds support from the majority of its stocks, especially the index heavyweights, can not raise trading rates, to give the message of a strong recovery.

In particular, the general index records gains of 0.91% at 892.18 points, while the turnover is at 21 million euros.

Although the board is almost “green”, with the majority of securities being in positive territory, the market does not show that it can maintain this picture for a long time, as trading activity remains low. So there are many analysts who believe that the rise today is due more to the lack of sellers and less to the resurgence of interest from buyers.

After all, how could this picture change if one considers that the course of the economy is still precarious, due to the great uncertainties from the war in Ukraine and the high inflationary pressures. As stated by the Governor of the Bank of Greece, Giannis Stournaras, the Greek economy is projected to continue growing in 2022, but at a slower pace than the initial forecast (4.8%). Due to the uncertainty about macroeconomic developments, banks have to face significant challenges, such as new non-performing loans that may arise but also due to high inflation.

At the level of securities now, Ellactor stands out with + 3.58%, as well as Eurobank, Coca Cola, OTE, Alpha Bank and ELHA which record strong profits. On the other hand, Quest loses 2.59%, with Jumbo, Aegean, GEK Terna and Mytilineos moving with small losses.