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Strong volatility due to extra 33% tax on refineries | TheGreekDeal.com
Athens Stock Exchange
Strong volatility due to extra 33% tax on refineries
On the Athens Stock Exchange, there was significant volatility today (20/6) as sellers took the "reins," breaking the two-day upward trend.
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Strong volatility was recorded today (20/6) on the Athens Stock Exchange, with sellers taking the "reins", interrupting the two-day upward reaction. However, support from buyers did not allow a slide below 1,420 points.

The temporary solidarity levy announced by the government for the refineries put a brake on the enthusiasm of traders following the confirmation of the long-awaited sale deal of Terna Energy.

Undoubtedly, the news of the day was the sale of the majority stake (67%) of Terna Energy to Arab Masdar, which then intends to proceed with a public offer to acquire 100%, with all that this implies for the available liquidity.

At the same time, the market also focused on MSCI, which will tonight publish its standard classification of global stock markets, with Athens having a high chance of being included in a watch list for future upgrades in developed markets—for the first time since 2013.

Against this backdrop, during today's session, the General Index recorded a controlled decline of 0.31% to 1,421.71 points, losing 4.5 points compared to Wednesday's close (1,426.20 points).

The arc of daily fluctuations was fixed at 23 points (from 1,411.53 to 1,434.66 points), with a turnover of 156 million euros, of which 7.5 million euros related to pre-agreed packages.

The banking index, for its part, interrupted its two-day upward streak and succumbed again to sellers, ending -1.16% and 1,246 points.

National Bank shares slipped to -1.34% and 8.082 euros, Piraeus shares narrowed to -1.80% and 3.499 euros (5-month low), Alpha Bank shares folded to -1.55% and 1.52 euros, while Eurobank shares fell slightly to -0.24% and 2.082 euros.

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