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By Alexandra Tombra
The “blow” that the Athens Stock Exchange received today was very strong, as it landed hard at the levels of early September, undoing the entire range of reaction, under the weight of the negative international climate, but also the risk of measures stricter to limit it. pandemic.
Specifically, the General Index closed with losses of 4.29% at 630.32 points, while today it moved between 630.32 points (-4.29%) and 653.89 points (-0.71%). The turnover amounted to 49.7 million euros and the volume to 37.5 million units, while 514 thousand units were negotiated through pre-agreed operations.
The large capitalization index closed with losses of 4.65%, at 1,503.98 points, while Mid Cap completed transactions at -1.36% at 850.76 points. The banking index closed with losses of 6.25% at 303.33 points.
The market could not maintain its support, handing over the “keys” of the recent reaction to sellers, who with low turnover managed to return the General Index to the levels that were at the end of the first ten days of the month. And today others may have been the protagonists of the fall, but almost 2/3 of the daily volume was traded in the banking sector, returning the sector index to the 300 point zone.
So while the industry received a vote of confidence from Morgan Stanley today, it is still the weak link in a market that shows how vulnerable it is on a daily basis. Indeed, MS stated that market concerns, while understandable, do not take into account the positive catalysts of the coming period, which will lead to a reduction of NPEs to 5% or less of total loans from Greek banks. Both the Recovery Fund and government support programs are limiting the impact of the pandemic on the economy and banks.
Of course, Morgan Stanley’s optimism, especially on the EU Recovery Fund front, cannot be shared by the market, which believes that the Europeans cannot act decisively on the front of sanctions against Turkey either, with in order to eliminate this major destabilizing factor in Greece. Therefore, waiting for these 32 billion to come, buyers are left behind, even if they see the Greek government preparing a comprehensive plan for their use.
Today, of course, ATHEX had to manage the extremely negative international climate caused by revelations about money laundering through the world’s largest banking institutions. The investigation stigmatizes five major banks: JPMorgan Chase, HSBC, Standard Chartered, Deutsche Bank and Bank of New York Mellon, which are accused of continuing to divert funds from suspected criminals even after charges were brought against them or they were convicted of financial misconduct. crimes.
Many analysts are warning of a new crisis, this time banking, at a time when Greece is trying to manage the increase in coronavirus cases. Starting today, Attica enters the trajectory of additional measures, which in turn will bring a new blow to economic activity (especially catering and entertainment).
Board
On the board of directors, Aegean and Viohalko closed with losses of 8.60% and 8.18% respectively, with Alpha Bank and Motor Oil finishing at -7.20% and -7.12% respectively. Losses in Piraeus reached 6.42%, in Eurobank 6.21%, followed by Coca Cola, EYDAP and Ethniki with a fall that exceeded 5%.
More than 4% were losses in OPAP, HELEX, Jumbo, Fourli, Hellenic Petroleum and IPTO, while more than 3% in Saranti, OTE, GEK Terna, Titan and PPC. The fall in Terna Energeiaki, Mytilineo and Lambda exceeded 2%, closing the PPA at -0.94% and Ellactor unchanged.
