March 29, 2023

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The stock market is slipping back into negative territory

Last updated 11:25

Alexandra Tombra

The bullish effort lasted only three quarters on the Athens Stock Exchange, which has now returned to a downward trajectory, as buyers remained in the background awaiting the completion of the correction that started yesterday.

In particular, the general index recorded losses of 0.23% at 1116.22 points, while the turnover amounted to 12.6 million euros and the volume amounted to 4.1 million pieces. The FTSE 25 index also recorded a decline of 0.29% at 2727.11 points, while the banking index lost 0.27% at 913.14 points.

Ratings and the political thermometer

Expectations for today’s range assessment of the Greek economy may be low, especially on the front of a scale change, but that doesn’t mean the market isn’t waiting for its report to diagnose aspects that could indicate some future movement. . After all, the main assessment of the market is that investment grade will hardly come before the election, especially after the recent events.

Indeed, although it is not expected that the dynamics of political associations have changed since the unfortunate train accident, the mood of the electorate is fragile, and it is clear that it affects a part of them. In the next few days, election announcements from Maximos are also expected, with the date scenarios opening up again.

As reported today, what awaits, in the first phase, is the determination of the new date for the Cabinet meeting scheduled for today, which was postponed after the tragic train accident in Tempe. In all probability the meeting heads to next week, while if Mr. Mitsotakis … wants to make developments and hold the ballot on the second Sunday in April, Parliament must be dissolved by the 15th of March.

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on the dashboard

PPC posted losses of 2.93%, with Piraeus down 1.45%, while OPAP, GEK Terna, Sarantis, Aegean, Autohellas, EYDAP, Titan, Mytileneos, Alpha Bank, OTE, Jumbo and Eurobank posted losses.

Conversely, Coca Cola is trying to support the +1.61% it is recording, with Quest, Ethniki, PPA, Lambda, Ellactor, Biohalco, ELHA and Terna Energy moving slightly higher. Hellenic Petroleum and Motor Oil are unchanged.