The Greek Deal.com
Pressure increases, sellers at Titan and Aegean | TheGreekDeal.com
Athens Stock Exchange
Pressure increases, sellers at Titan and Aegean
The Athens Stock Exchange is under increasing pressure as a result of the majority of its index-heavy stocks moving with large losses and searching for hills to avoid losing contact with 1,450 points once more.
Newsroom
TIME TO READ
1 min

Pressures are currently increasing on the Athens Stock Exchange, which sees most of its index heavy stocks moving with significant losses, looking for mounds in order not to lose contact with 1,450 points again.

In particular, the General Index is down 0.51% at 1,442.17 points, while turnover is at 37.8 million euros and volume is at 6.8 million pieces. The FTSE 25 is also down 0.57%, at 3,510.54 points, while the banking sector is down 1.01%, at 1,275.18 points.

Although the market was expecting to see what the government's measures are in terms of the amount of the extraordinary tax and subsidies on the bills, Environment and Energy Minister Theo Skylakakis did not provide further details, essentially holding the market hostage. Because he will have to wait until the end of July to assess the impact of the extraordinary tax on gas-fired electricity producers.

Indeed, at a time when the market had become more introverted, 'playing only defence' against external turbulence, a front that should have been closed, with clearer measures, remains open. In essence, giving new fodder to the caution that has dominated recently, despite the continuous upgrades of selected index-weighted securities and the mobility shown by some mid-cap stocks.

Besides, the help from Europe is not great either, as foreigners there, while trying to "recover" from the French shock, now have to deal with the scenario of Donald Trump's return to the White House. US trade policy and support for Ukraine are two fronts that will be on all the markets' minds if the Trump scenario is confirmed.

On the board now, Titan is down 2.08%, with Aegean, Sarantis, Jumbo, Eurobank and Ethniki following with a drop of more than 1%. Motor Oil, Alpha Bank, Autohellas, Mytilineos, Lambda, Biohalco, Cenergy, EVDAP, Piraeus, PPI, OTE, AIA and Hellenic Petroleum are mildly down.

On the flip side, in mildly bullish territory are OPAP, Coca Cola, Ellaktor, GEK Terna, EXAE and Terna Energy, with none moving above +0.8%.

READ ALSO