The Athens Stock Exchange is attempting to make an immediate positive reaction after the large losses triggered by yesterday's global sell-off, moving at rates significantly higher than the European indices.
In particular, the General Index is moving at 1,378.05 points with a gain of 2.75% and increased turnover at 15 million euros and volume at 4 million pieces.
In any case, markets seem to be rebounding today and strongly in some cases, with the Nikkei immediately picking up most of yesterday's historic losses (-12.4% in its worst daily decline since 1987) with a ferocious 10.24% rally. Similarly, in Europe, they are back in positive territory after three days, and US futures are moving with gains of more than 1%.
In Greece, the negative of yesterday was that the losses far outweighed the European counterparts (-6.3% when European indices finally narrowed theirs and below 2% in some cases), which confirmed that the Athens Avenue lacks depth and investment reserves to support its valuations.
Thus, the picture yesterday showed that when the first wave of selling brought the GI below technical support levels, this immediately triggered new sell orders, probably from hedge funds, highlighting the absence of possible portfolios that would attempt to take advantage of the opportunity of sharply lower prices.
PICTURE ON BOARD
Today, however, the reaction in the banking sector is immediate, with the 4 systemic banks all making gains of around 3% and Piraeus, which was under the most pressure yesterday, moving up to over +4.7%.
Similarly, Metlen is moving +3.4% and OPAP +2.5%, completing the six stocks that have turned over more than a million already before the first half hour of trading.
It is also characteristic that while yesterday on the FTSE, not a single security moved positively at any point in the session, today, in the first 30 minutes, they are all in the green.
Motor Oil is at the top of the index next to Piraeus with a gain of more than 4%, while Aegean is recovering with +3.9%.
AIA and Autohellas are also up more than 3%.
In the lower strata, Intralot picked up some of its -10.9% yesterday with +2.5% today, with Intracom also up +4.5% and AVAX up +5.6%, while the only stock on the FTSEM that is slightly negative (-0.2%) is Dimand. Beyond that, Q&R is getting a reaction with a gain of over 5%.
