The ESF also caused losses in Athens
The climate in the Greek stock market deteriorated during the last session of October, with the cause, occasion and focus of the strong bond market sales, which caused the market expectations for tightening of the ECB monetary policy earlier than originally expected, as the Christine Lagarde failed to convince the market of the course of its policy and how temporary the phenomenon of rising inflation is. Especially at a time when, according to the announcement of inflation in the Eurozone for the month of October, it jumped to 4.1%, from 3.4% in September.
The result was that the ATHEX, following the negative climate that prevailed in the European markets, lost the 900 points that it had so hard to recover and confirmed in the previous six sessions, with a turnover of over 100 million euros. , due to the packages.
Thus, in the statistics of Friday’s session, the General Index closed with a fall of 0.94% to 898.06 points, while the turnover amounted to 104.28 million euros.
October proved to be an extremely positive month for the General Index.
The large-cap index closed at -1.05% at 2,171.20 points, the average capitalization closed at -0.38% at 1,461.21 points and the banking index closed with losses of 0.81% at 581.29 points . .
On a weekly basis, the General Index closed with a fall of 0.77%, while the banking index underperformed with a fall of 1.53%. At month level, the General Index strengthened by 3.8% and the banking Index by 6.95%.
Although in the previous days the increase in the yields of Greek bonds to 1%, approximately, did not seem to affect the ATHEX, however the two-day sell-off which sent the 10-year yield to 1.31%, the highest level since in the summer of 2020 and close to the levels where it was moving before the pandemic broke out and before PEPP was implemented, it shook the dashboard on Athens Avenue.
Apart from this last meeting of the month, however, October proved to be an extremely positive month for the Greek market, despite the intense volatility, and denied its reputation as a month of fear for the markets. Technically, according to Merit Securities, the 894 points are the support point for the General Index, and the 910 points are the resistance point.