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Stabilizing trends prevail today | TheGreekDeal.com
Athens Stock Exchange
Stabilizing trends prevail today
On the Athens Stock Exchange today (11/7), stabilizing trends are dominating as buyers and sellers attempt to control the bias in a low-key, highly volatile session.
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Stabilizing trends prevail today (11/7) on the Athens Stock Exchange as buyers and sellers try to gain control of the bias in a session of high volatility and low tones.

On the positive side, however, the Greek market is maintaining its composure, having gained a safe distance from the 1,400 supports and just 6% away from the 1,502 tops.

On the other hand, the absence of significant catalysts, combined with the uncertainty in Europe, contributes to the impossibility of a convincing upward movement above 1,450–1,460 points.

Against this backdrop, the General Index is up a subtle 0.06% to 1,445.11 points, gaining less than one point compared to Wednesday's close (1,444.31 points).

The arc of daily fluctuations extends to six points (from 1,442.68 to 1,448.09 points), with the turnover of transactions ranging at 3 million euros in the first 20 minutes.

On the board, now, Jumbo shares are sliding 2% after revising this year's profitability forecasts to the lower range of estimates of 8% to 10%. On the other hand, Eurobank is up 1.4%, taking a boost from DBRS' investment grade.

The banking index returns to positive territory, up +0.98% to 1,270 points, narrowing the gap to recent highs to below 6%.

Piraeus shares are up +1.1% and €3.69, Ethnikis shares follow at +1% and €7.936, Eurobank shares are trading +1.40% and €2.098, while Alpha Bank shares are up +0.85% and €1.654.

In the high-cap index (+0.31% and 3,524 points), Jumbo's shares shrink to -2% and 25.70 euros, as the management's assessments exacerbate the inward-looking mood, following yesterday's pressure from the dividend cut. On the flip side, Motor Oil shares expand 1% to recover 23 euros, with EYDAP and Lamda Development shares trailing at +0.8%.

As for the mid-cap index (+0.14% and 2,310 points), the shares of HSE are trying to stand out at +1.3% and 4.88 euros, with shares of Kri Kri and Ideal gaining at least 1% each. In contrast, Techniki Olympiani's shares lose 1.5%, while Fourlis' shares retreat by 0.9%.

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