ATHEX – Secures 900 units

In the very narrow zone of 900 – 910 units the Greek stock market remains for the fifth consecutive session. This although creating an air of a few units above the psychological limit of 900 units, can not move decisively higher. Thus, with the limited + 0.45%, it remains at 905.24 points, where it has found the balances with the sellers.

What worries analysts, however, is that while the overall index, since the beginning of the month, has climbed… ten points on the recovery ladder, with a good record of 50 points so far, this has happened with low turnover. In fact, if you deduct pre-agreed transactions and transactions related to the increase of PPC’s capital, then serious questions are raised about the foundations of the positions created.

So the real picture will be seen in the near future, or in any case if the turmoil returns to international markets. Traditionally, November is a month in which foreign portfolios (over 60% on the ATHEX) complete their 12-month strategies and choose positions for next year. Whether the bet of staying on Athens Avenue will be won, therefore, is an important message that the ATHEX should give.

In such a context and just two meetings away from the end of October, Jumbo supports the market with + 2.26%, as do Sarantis, OPAP and HELEX. The presences of Eurobank, Mytilineos, Coca Cola, PPC, National Bank and Alpha Bank are also positive, while on the other hand, the losses in Motor Oil, Biochalco, Hellenic Petroleum and Titan have a negative effect.