Athens Stock Exchange: On hold for profit retention

The signs are mixed on the Greek stock market today, as many portfolios proceed with mild profit-taking, after yesterday’s jump, but without depriving the market levels. Thus, the general index recorded a gain of 0.15% at 1,094.53 points, with the turnover at 9 million euros.

Climate

The market has some support, such as from Coca Cola which announced results today, in order to limit the correction phase to a purely securities level and the general index does not lose the levels of 1,090 units. Of course, this scope should provide the portfolios with the required liquidity without having to compress valuations, an undertaking that is judged on the willingness of buyers to “sweep” the offer at these levels.

However, so far the market is handling the pressures of profit taking very well, activating some reserves. However, how much the general index units will be maintained remains questionable, given the willingness of several portfolios to allocate their liquidity for purchases at lower levels. A good indication of completion or saturation of the correction will be a balance session with reduced turnover.

On the board

At the level of securities now, on the one hand there are the strong gains in Ellactor, Coca Cola, Piraeus Bank and Quest, and on the other hand the strong pressures on Aegean, Eurobank, Lambda and EYDAP, Titan, Terna Energy, PPC, ELHA, OTE, Sarantis and Mytileneos are in positive territory, but Jumbo, Biohalco, PPA, Alpha Bank, Motor Oil, Autohellas, GEK Terna, National Bank and OPAP are in negative territory.