ATHEX: Stock Exchange in a tug of war

Today, Coca Cola and OTE are helping the Greek stock market confirm the level of 890 units, as their shares support the general index against the negative sign and the prevailing corrective movements. The general index is moving with gains of 0.03% to 893.47 units, with the turnover being at 7 million euros.

After the general index’s leap from 846 to 893 points since last week, it makes perfect sense for some corrections to take place so portfolios can lock-in some of their gains. It also makes sense that they need liquidity in order to contain any “leaks” that may occur should the market want to test the 900 level.

Trading interest

However, what is positive in the market is that in the days around the Fifteenth of August trading interest has received a boost, with many portfolios remaining active, something we have not been used to in recent years. It is therefore clear that ATHEX has the energy to change levels, although a lot is influenced by the international climate, which remains precarious amid great uncertainties.

At stock levels, Coca Cola, Quest and OTE are now the three bodyguards of the market’s positive sign, as well as the small gains of Aegean, Motor Oil, GEK Terna and National Bank, while PPC and ELHA exert negative pressures. OPAP, Piraeus Bank, Hellenic Petroleum, PPA, Mytileneos, Ellactor, Titan, Terna Energy, Lambda, Biohalco, Jumbo, Alpha Bank and Eurobank are also moving into negative territory.