Correction of 1.5% in the last 2 days

Correction of 1.5% in the last 2 days | TheGreekDeal.com

Athens Stock Exchange

The recent rise to 1,500 points set off a controlled wave of liquidation on the Athens Stock Exchange, resulting in losses for the second day in a row and a 1.5% mini-correction over the previous two days.

Newsroom

22/05/24 • 17:47

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The Athens Stock Exchange posted losses for the second consecutive day, as the recent climb to 1,500 points triggered a controlled wave of liquidation, which has led to a mini-correction of 1.5% in the last two days.

More specifically, during today's session, the General Index fell by 1.09% to 1,480.09 points, losing 16 points compared to Tuesday's close (1,496.35 points).

The arc of daily fluctuations was fixed at 18 points (from 1,4878.23 to 1,496.54 points), with a trading turnover of 425 million euros due to the "packages" worth 255.6 million euros for the placement in Mytilineos.

The price of the placement, which involved 5% of the share capital, was 35.5 euros, i.e. a discount compared to yesterday's close. This understandably put pressure on the stock (it lost almost 5% today), while investors rushed to bridge the gap.

The banking index, similar to the rest of the market, continued its controlled downward trend for the second consecutive day, ending the day at -1.39% and 1,316 points.

Alpha Bank shares narrowed to -2.04% and EUR 1,732, Piraeus shares folded to -1.35% and EUR 3,792, Eurobank shares contracted to -1.36% and EUR 2,103, while National Bank shares closed at -1.07% and EUR 8.36.

In the high-cap index (-1.42% and 3,590 points), Mytilineos' shares declined -4.9% and 37 euros, negatively affecting the whole board. The shares of Cenergy, Viohalco, Aegean, Sarantis and OPAP also showed losses of 2%. At the same time, shares of OTE, Hellaktor, Helleniq Energy, and Autohellas retreated by 3%, with shares of GEK Terna, PPC, Elvalhalkor, and EYDAP losing at least 3%. In contrast, Motor Oil shares gained 3.3% and returned near record highs of 28 euros. Finally, Titan Cement was up +1.4% and 31.8 euros.

As for the mid-cap index (-0.82% and 2,381 points), Fourlis shares stood out negatively at -2.3% and 4.1 euros, as the quarterly figures did not excite investors. EXAE fell more than 3%, with Lavipharm, Techniki Olympiaki, and Dimand shares following around 2%. Austriacard, AVAX, and EYATH followed at -1%. On the flip side, shares of Plastic Thrace and Ideal expanded by over 1%, with shares of Premia, Aluminum and Kri Kri rising by up to 0.9%.