Feb 19 β€’ 08:41 UTC πŸ‡¬πŸ‡· Greece Naftemporiki

Stock Market: Digesting Yesterday's Rally – Pressure on Banks

The Athens Stock Exchange is experiencing a slowdown after impressive gains, impacted by concerns over a potential U.S. military strike on Iran.

Today, the Athens Stock Exchange is in a process of 'digesting' previous day's impressive gains, which amounted to 3.3%. Sellers are clearly taking the lead over buyers, indicating a shift in market sentiment. Following a strong comeback that allowed the index to recover past the 2,300 mark, the market's dynamics are now influenced by external factors, particularly rising tensions regarding a possible military action by the United States in Iran.

During the fourth session of the week, the General Index reported a controlled decline of 0.76%, settling at 2,309.78 points, which is a loss of over 17 points compared to Wednesday’s close of 2,327.44. The daily fluctuations of the index ranged from 2,309.20 to 2,320.80, achieving a trading volume of approximately 5.1 million euros. This indicates a cautious approach by investors as they assess the situation and its potential impact on the local economy.

On the board, major banks such as National Bank of Greece, Eurobank, Alpha Bank, and Piraeus Bank faced downturns of at least 1%. Additionally, the utility company DEI (Public Power Corporation) experienced a correction as its value fell to 18.7 euros. In contrast, some stocks like Viohalco showed resilience, suggesting a divergence in sector performances amid the broader market adjustments. Overall, the Athens Stock Exchange is navigating a fragile balance between local economic factors and international geopolitical developments, which may continue to influence trading dynamics in the near future.

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