Athens Stock Exchange: Banks still under pressure today

With the banking sector still at the center of sell orders today, the Greek stock market is moving strongly downwards, testing its first supports. The general index recorded losses of 0.97% at 1,079.99 points, with the turnover at 6 million euros.

The banking sector is leading the corrective course that ATHEX began in the last ten days of April, with its losses reaching close to 5%, while the general index is losing just over 2.5%. And this at a time when S&P upgraded Alpha Bank, Eurobank, National Bank (to BB- from ‘B+) and Piraeus Bank (to B+ from B), after upgrading the country’s outlook.

“Calculated correction”

However, what analysts point out is that the market is making a modest correction, as evidenced by the turnover recorded in the last sessions, without implying that the decline has fundamental reasons for risk aversion. But a trend that may continue at least in May and in any case until the next government is formed.

Titles

At the securities level, Piraeus, Autohellas, Eurobank, Alpha Bank, National Bank, GEK Terna, Viohalco and Titan are now at the center of pressure, while OPAP, PPC, Jumbo, Terna are also in negative territory. Energy, Mytileneos, ELHA, OTE, PPA, Ellactor, Motor Oil and Aegean. Lambda, Coca Cola, Sarantis and EYDAP are moving positively.