Major European markets have moved well off their morning lows and are now trading mixed, with buyers regaining confidence as oil turns lower, posting modest losses.
The Greek stock market’s General Index has also turned higher, climbing to just shy of 2,592 points, as buyers seek a second consecutive session of gains.
More specifically, just before the first three and a half hours of trading are complete, the General Index has moved between 2,559.72 (-0.39%) and 2,591.34 points (+0.84%), while turnover remains subdued at 92 million, of which 15 million relates to pre-arranged transactions (CREDIA, OPTIMA, ΔΕΗ, ΜΠΕΛΑ, ΑΛΦΑ, ΕΤΕ, ΑΒΑΞ, TITC, BOCHGR).
The relative slump in turnover comes as no surprise, as it was widely expected that many portfolios would sit on the sidelines ahead of tomorrow’s market holiday.
Advancing stocks clearly outnumber decliners on the large-cap board, but so far only a few are posting significant gains in their valuations.
More specifically, the only stocks trading with notable gains are ΕΤΕ (+1.14%), ΠΕΙΡ (+1.91%), OPTIMA (+2.48%) and CENER (+2.25%).
Among the index heavyweights under pressure, only ΔΑΑ (-1.16%) is down by more than one percentage point.
There are no positive surprises among mid- and small-cap stocks, which continue to lose what few supporters they have left.
It would be a positive sign if the General Index closed above 2,590 points, but significant resistance lies at 2,640 points.