The Athens Stock Exchange declined for the second session in a row, but clearly showed its intention to keep the level of 1200 units. The recent very strong AX rally, with the overall index ending a traditionally difficult May up 12.3% and the banking index posting a 20.5% gain, resulted in several portfolios taking short-term profits, but the target is not to run but to reposition for repositioning ahead of the election and investment grade. The overall index fell 0.52% to 1,218.65 points and turnover reached 321.3 million euros due to the restructuring of the MSCI indices. The Large Cap Index fell 0.75% to 2946.3 points, while the Mid Cap Index closed down 0.62% to 1826.07 points.

In non-bank blue chips, losses of 4.38% and 3.97% were recorded by Sarantis and EYDAP respectively, followed by Jumbo with a fall of 2.25%, and losses of more than 1% were recorded by GEK TERNA, Coca -Cola, Lamda and ELVALHALKOR. Motor Oil added 2.29% while Aegean, Biohalco, Quest and Mytilineos closed up more than 1%.

The banking index fell 1.87% to 958.27 points, with the National Bank falling 3.17%, Eurobank closed at -1.88%, Alfa Bank at -1.42% and Piraeus Bank at -0. 29%.

In yesterday’s session, the General Index fell 0.52% to 1218.65 points.

According to Dimitris Tzanas, management consultant for Kyklos Chrimatistriaki, the performance of the General Index and banks was explosive after the election results, which surprised even the leaders of the ruling party, and the Greek Stock Exchange became the world champion in five months. refuting those who at the beginning of May reminded me to sell in May and leave (sell in May and leave the market). According to him, this speech was accompanied by the publication of positive results for the first quarter of the year by several listed companies. At the same time, on June 7, ELSTAT will publish data on GDP for the first quarter, which is expected to exceed +3%, and on June 9, inflation data for May will follow, which is expected to fall below 3%. .

Based on the foregoing, Mr. Tzanas notes that the image of overall upward performance for listed company sizes during the first quarter is warranted, with Morgan Stanley recommending excess positions in Greek securities in its latest report.

However, according to him, the General Index, which has already exceeded 1200 units, is unlikely to face higher levels, such as 1268 units, which is the strongest resistance in the near future. Many are, and will continue to be, seeking to profit by waiting on political events and the announcement of the new government’s policy announcements.