The ATHEX has covered the ground it lost from the appearance of the Omicron variant and now sees the new year with a different perspective

The rise recorded today by the Greek stock market is strong, with the banking sector leading with significant profits, but also Coca Cola giving the impetus with its weight.

The general index gains 1.48% to 919.87 points, with a turnover of 45 million euros.

The big bet

In essence, the ATHEX has covered the ground it lost from the appearance of the Omicron variant and now sees the new year with a different perspective. Of course, the big bet is reaching 930 units, which put a stop to the upward trend of the market a few times in 2021. It is the level at which the market runs out of steam while there are many analysts who believe that the longs will hesitate to take initiatives from these levels on.

In this context, they have often bypassed significant analysts’ positive assessments of the outlook, such as the current one from JP Morgan, which has praised the strong reform agenda and the additional impetus from the disbursement of the Recovery Fund and the existing stable political scene in Greece. And as JP Morgan sees it, the positive dynamics of valuation will continue with a decent chance of achieving an investment grade from at least one international rating agency by the end of 2022 or the beginning of 2023.

The image on the board

In terms of securities now, Alpha Bank, National Bank and Piraeus are gaining more than 3%, with Coca Cola and Eurobank following a rise of more than 2%. The presence of Mytilineos, Viohalko, Motor Oil, OTE, OPAP and PPC is also positive, while Lambda, GEK Terna and Hellenic Petroleum are moving in negative territory.

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