Tuesday , January 25 2022

National, Eurobank, Stock Exchange Sinks


she Alexandra Tombra

The Athens Stock Exchange sold off Eurobank and Ethniki following the decision to remove two stocks (Piraeus Plus) from the Standard Greece Index and trigger another powerful wave of MSCI withdrawing funds from the banking sector Which has been steadily declining.

In particular, the Standard & Poor's index was down 1.68 per cent to 633.20 points, with sales of 28.8 million euros and transaction volume of 27.8 million. The 1.78% loss was recorded at 1668.14 points by FTSE 25, while the banking index was down by 7.05% to 484.47 points.

The Athens Stock Exchange once again confirms how shallow and weak the position changes are, as it is happening, when deleting stocks of three systematic banks Piraeus Bank, National Bank and Eurobank in accordance with MSCI standards. Greece and MSCI Small Indexes Downgraded Was determined by MSCI during the index review.

It was a surprising decision on several portfolios that are expected to be pulled out of Piraeus. Past Piraeus will be determined by the behavior of the stock. Eurobank and Ethniki are two marvels that are moving away from MSCI's Greek standards and that many investors are doing today.

This development will not only impact the valuation of Greek banks, but will also change the nature of the active portfolio in Greek stocks, as we will see in the next period. This is an opinion on stock market news. Capital.grThe report stressed that this is a development that could affect several long portfolios even if it is not an index truck. In other words, it is not entirely moving based on the indicator.

On the contrary, we will encourage a short portfolio in the short term, and this will lead to a final adjustment that ends on November 30th and we will find an opportunity to bet on further market declines. Currently, 60 million shares, 1.2% of the total of four system banks – Alan Bank, Eurobank, National Bank and Piraeus Bank – are in the hands of Lansdowne Partners, Marshall Wace and Oceanwood Capital Management. It has been actively betting on the banking industry and claims that the Greek economy is showing a negative outlook for a long time.

In addition,chapter " Ambitious goals such as the slowing of the Italian crisis since May, the "deficit reduction", the weakening of the Greek bank's profitability, and the inability to access the Greek market in February – rather than the advance credit that allows Greek bonds to be included in the " The political choice of "clear exit" is making more investment. Domestic analysts, they are aggressive.

In this environment, National Bank lost 12.98% to Eurobank with -9.84%, Alpha Bank with -3.59% and Piraeus with -3.24%. The HELEX loss is 2% while Viohalco, GEK Terna, PPC, Grivalia, Sarantis and Hellenic Petroleum move above -1%.

Jumbo and Titan are moving slightly up and down, while Furlles, Lambda, Coca Cola, ADMHE, OTE, Mytilineos, Terna Energy, OPAP, Motor Oil, EYDAP and PPA are declining slightly. Aegean will increase by 1.11%.

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