Athens Stock Exchange: Unstoppable upward streak

With an impressive turnover, the Greek stock market is moving strongly upward, now consolidating its presence above 1,100 points and continuing a self-sustaining upward streak. Right now, the general index is recording gains of 1.71%, at 1,121.68 points, with the turnover already exceeding 70 million euros.

Although buyers gave us an idea of their intentions last week, especially with the increased turnover during the Easter holidays, today’s strong recovery once again shows that interest is high. So the question arises whether and to what extent the board discounts the (rather improbable) scenario of the upgrade, which the Greek financial market is desperately asking in order to take off.

Optimism

But even if such an announcement does not come, it is likely that the wording will be optimistic, so as not to drive away the medium-term investors who had already discounted a good scenario recently. Also, the corporate results of some of  listed companies are, if nothing else, impressive, with new records of turnover and/or profitability, and everyone is waiting for a possible clean election result to mature so that this risk will also disappear

At the level of securities now, Piraeus Bank, Eurobank, Alpha Bank, National Bank and Biohalco lead the rise, while the gains in Aegean, Lambda, GEK Terna, Hellenic Petroleum, Sarantis, OPAP, Quest, Terna Energy, Coca Cola and OTE are also significant. Jumbo, Titan, PPC, ELHA and PPA are moving positively, while Mytileneos, Motor Oil, EYDAP, Autohellas and Ellactor are moving negatively.