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its Alexandra Tombra
Extremely sinister is the scenario that has formed today on the Athens Stock Exchange, which sees sellers “shed” their positions at a rapid pace, as the financial nightmare of another lockdown has returned to the government table.
Specifically, the General Index registers losses of 5.40% in 563.05 points, while the turnover stands at 39.8 million euros and the volume at 30.7 million units. The FTSE 25 also fell 5.53% to 1,319.60 points, while the banking index posted losses of 7.78% to 234.08 points.
The government is doing everything it can to avoid a universal lockdown, but at a time when coronavirus cases are increasing exponentially. Tomorrow, the Prime Minister will announce a new one-month action plan, which will include further strengthening of specific restrictions. But even without the global lockdown, the market cannot ignore the fact that the last quarter of the year may turn out even worse than the previous two, as the economy is already feeling the after-effects of last spring’s measures.
In this ominous environment, the market sees that the Recovery Fund is not accelerating to support the economies of Europe and consequently Greece, but neither is the European Central Bank expected to decide something today, to also give momentum. in economics. Foreign aid is more than imperative to overcome the second wave of the pandemic with the lowest possible losses.
Against this background, Capital Economics estimates that European markets are expected to experience more “pain” by the end of 2020 (whatever that means for the already heavily hit Athens Stock Exchange), as restrictions on activity they increase throughout the euro zone. In fact, he estimates that the economic recovery will continue to lag behind that of the United States next year.
At the same time, the image of the banking sector, which has fallen to new historical lows, has caused a sensation, since there is still little visibility on the amount of problem loans that will be “produced” by the prolonged health crisis in the country. Now we are talking about a new wave of non-performing loans, which will require time and costs to manage.
Board
On the board now, Alpha Bank, Piraeus, Ellactor and PPC all post losses of more than 8%, with Eurobank at -7.37% and Mytilineo, GEK Terna, Ethniki and OTE down more than 6%. . More than 5% is the fall of Fourli, Terna Energy, Lambda and Hellenic Petroleum.
The fall in Coca Cola, Titan, HELEX, IPTO, Viohalco and OPAP exceeded 4%, with EYDAP and Jumbo being -3.73% and -3.54% respectively. Sarantis, Motor Oil and Aegean are moving above -2%, with PPP at -1.86%.
