Athens Stock Exchange: Sellers Return, Market Volatility Remains High
The Athens Stock Exchange opened today with sellers back in the driver’s seat, pushing the General Index down 1.30%. This follows a two-day bullish reaction that saw the index recover 4% of its previous losses.
Market factors remain uncertain: geopolitical tensions, recession fears in the US economy, and the ongoing bleeding in global markets (down $6.4 trillion) continue to cast a shadow over investor sentiment.
Specific highlights:
Jumbo shares tumbled after the company announced a downward revision of its sales guidance for this year.
National Bank of Greece and other major banks saw significant losses.
The European markets closed lower, with the STOXX 600 down 0.82%.
Despite the losses, some sectors saw gains:
OPAP shares continued their upward trend, reaching new highs.
Certain mid-cap stocks, such as EXAE and Technical Olympian, also performed well.
Expert commentary suggests caution:
Apostolos Vakakis, a market analyst, lowered his sales forecast for Jumbo.
The overall market volatility and instability remain high, despite some short-term rebounds.
Other news:
The European Central Bank is expected to continue raising interest rates in an attempt to curb inflation.
* Investors await further economic data releases from the US and Japan.News Article Summary:
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