ATHEX – Banks supporting

With support from the banking sector, the Greek stock market is currently trying to remain at the level of 895 points, although earlier it caught a whiff of 900 points, which scared it back down.

At the moment, the general index is moving with small gains of 0.01% at 894.84 points.

A “wall” at 900 units

In essence, though, although the ATHEX previously tried to break through the resistance of 895 points, it does not yet appear to have the forces needed to recover the 900 points after almost a month. Of course, the third attempt of the ATHEX occurs at a time when the international climate is fragile, with many foreign funds abhorring exposure to risk that could lurk in more regional markets, such as Greece.

Of course, although in the second ten days of October the ATHEX has shown a tendency to accumulate in a narrow range, there is no lack of optimistic estimates that indicate both the resilience of Athinon Avenue to international turmoil and the market signal in force in the industry, banking.

The latter is of course attributed to the current positive performance of Eurobank and National Bank, which gain 2.09% and 1.45% respectively, offsetting the more than 1% losses in Jumbo, Coca Cola, Ellactor and Terna Energy. The presence of Piraeus, PPC, Motor Oil is positive, in contrast to those of OTE, Viohalko, Mytilineos.