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Small upward steps with stock picking | TheGreekDeal.com
Athens Stock Exchange
Small upward steps with stock picking
The Athens Stock Exchange continued its accumulation path today (22/8), with buyers beating sellers for the second consecutive session, remaining within striking distance from the 1,440 point resistance level.
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The Athens Stock Exchange continued its accumulation path today (22/8), with buyers beating sellers for the second consecutive session, remaining within striking distance from the 1,440 point resistance level.

On the other hand, however, trading turnover remained at stunted levels, not allowing for a convincing upward move, while the Greek market seems to have run out of "fuel" after the recent recovery rally from the "Black Monday" (5/8) plunge.

And all this while analysts' attention is focused abroad—and in particular, on the issue of US interest rates, which, barring a shocking contingency, will start to fall in September, offering valuable breathing space to international markets.

In this context, in the 4th session of the week, the General Index recorded a marginal increase of 0.25% to 1,436.11 points, gaining 3.5 points compared to Wednesday's close (1,432.53 points).

The arc of daily fluctuations was fixed at seven points (from 1,429.80 to 1,436.25 points), with a trading turnover of just 76 million euros, of which 3.2 million euros were for pre-agreed packages.

On the board, now, Motor Oil expanded dynamically by 2.6%, with Jumbo shares following at +2%. At the same time, Eurobank "erased" its intraday losses and came within a breath of EUR 2.10. On the other hand, OTE retreated below 15 euros.

The banking index, although it was down up to around 1% intraday, eventually closed up +0.30% and at 1,281 points, helping the market to end on a positive note.

Eurobank shares gained +0.48% to +0.48% and 2.09 euros, ΝΒG shares rose +0.87% and 8.152 euros, Alpha shares traded +0.47% and 1.594 euros, while Piraeus shares fell -0.88% to -0.88% and 3.822 euros.

In the high-cap index (+0.26% and 3,497 points), Motor Oil shares "flew" to +2.6% and 21.7 euros, while Viohalco and Hellaktor shares proved to be worthy supporters, which gained more than +3%. Jumbo shares, at the same time, rose by 2%. On the other side, OTE's share fell by 1.6% and lost 15 euros. Cenergy's shares also fell by 1.2%, which retreated from historical highs.

As for the mid-cap index (-0.16% and 2,265 points), shares of Kri Kri fell -0.8% and 12.1 euros; as of today, they were trading without the right to the dividend of 0.35 euros (gross). Intracom and Quest slipped around -1.5%. Conversely, Intralot shares stood out positively at +1.6% and EUR 1.12, with Trade Estates and EYATH following at +0.7% and +0.6%, respectively.

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