The Athens market is exploring the potential to break the downward spiral of the last four days, with banks quickly losing the bullish mood they initially showed.
In particular, the General Index is moving at 1,392 points with subtle changes and turnover at 8.5 million euros, while 1.9 million pieces have been traded.
After a move to 1,192 points (+0.7%), the bank index has changed direction and is now at 1,180 with -0.3%, the FTSE high-cap index is trading at 3,370 points with -0.2%, and the FTSEM mid-cap index is trading at 2,236 points with a gain of 0.2%.
After four bearish sessions that have plunged the GC back below the psychological 1,400 point level, the market is looking to get back into positive momentum and, if anything, to maintain the 1,380 point level, which if lost paves the way for further downward movement.
Moreover, in yesterday's session, when Athens Avenue approached the said resistance, it made a small reaction, and eventually, thanks to the positive diversification of Eurobank, combined with some general buying moves to higher valuations at the close, it moved away from the daily lows (1,381.7 points with -1.58%) to finally finish at 1,392.4 points. (-0.81%).
However, with banks absolutely dominating the board lately and setting the trend almost daily, the sector will first need to stabilize in order for the broader market to follow.
Internationally, Wall Street, thanks to Tesla's 5.6% rally, started the week on a positive note (although the Dow Jones lagged with a marginal decline), while European indices, which ended yesterday's close with small and mixed signs, continue to remain cautious today.
Specifically, NBG moves at 6.93 euros with +0.7%, while Piraeus moves around unchanged at 3.59 euros, Alpha retreats to 1.54 euros with -0.1%, and Eurobank, which diversified yesterday with a 1.8% jump, is down 0.4% at 1.99 euros.
Cenergy attempts an upside reaction after its strong results, up +1.4% to €8.45, with Sarantis and Ellaktor up more than 1% but with low trading activity. In contrast, Jumbo gives back yesterday's gains with -1%, Lamda moves -1.2%, with PPC at -0.6%.
In midcaps, Intralot is also looking for an upside reaction moving +0.4%, while PPA is at +3.5% but with little trading value.
