2024-08-13 16:45:19
Keep trying recovery of lost ground gave today (12/8) the Athens Stock Exchangewith buyers driving the General Index near one-day highs “breath” from the resistances of 1,400 units.
OR improved psychology abroad, in conjunction with attractive valuations of the listed, were once again the main fuel of the market, which nevertheless saw the trading volume to be fixed in view of the fifteenth of August.
Despite any positive reaction, of course, Athens still losing at least -5% since early Augustbeing more than 7% away from the this year’s peaks of 1,502 units (closing May 20).
In this context, during the first meeting of the new week, Mr General Index noted up 1.08% and formed on 1,398.20 unitsgaining about 15 points from Friday’s close (1,383.31 points).
The arc of diurnal variations was set at 15 units (from 1,384.64 to 1,399.97 units), with the transaction turnover to range just at 69 million eurosof which 13.6 million euros related to pre-agreed packages.
On the board, now, her stock Jumbo managed to break away from 15-month lows and strengthened by about 3%. OR Bank of Piraeusfor its part, expanded by at least 2%, while the PPC continued upward towards 11.5 euros. Positive signs were also shown by Motor Oilwhich however remained below 22 euros.
Tonight, meanwhile, the standard restructuring of its indicators is expected MSCI. Everything indicates that there will be no changes for the Greek index Standard Greecewhich currently includes 10 shares.
Stock Market – Motor Oil: Recovers from 20-month lows
Banks gain 1.6%
The banking index managed to move into bullish territory, ending at +1.62% and 1,231 unitsdropping to single-digit levels the distance from this year’s high of 1,354 units.
Her stock Piraeus strengthened to +2.30% and 3.83 euros, its share Eurobank increased to +1.53% and 2.019 euros, its share National closed at +1.76% and 7.51 euros, while its share Alpha followed at +0.58% and 1.55 euros.
The picture on the dashboard
In the high capitalization index (+1.16% and 3,404 points), its share Jumbo recovered by 2.8% and once again exceeded 22 euros, after plunging to 15-month lows. The shares of Titan and PPC followed with gains of more than 2%, with the first recovering 30 euros and the second approaching 11.5 euros. Motor Oil, EYDAP and Coca-Cola increased by more than 1%. On the contrary, its share Autohellas fell by about 2%, with its stock ELVALHALCOR to fall to -0.9%.
Regarding the mid-cap index (+0.93% and 2,220 points), the share of Fourlis stood out positively at +3.2% and 3.8 euros, while the shares of Dimand, Thrace Plastics and Optima Bank closed over +2%. CREE CREE, ADMIE and Austriacard increased by at least 1%. On the contrary, the shares of Ideal, Profile and Intracom.
Overall on the stock market, 64 stocks advanced, 36 stocks declined, while 16 stocks remained unchanged. OR capitalization of the market ranged at 97 billion euros.
The biggest turnover
- Piraeus +2.30% 17.6 million euros
- Alpha +0.58% EUR 6.9 million
- Jumbo +2.86% 6.3 million euros
- National +1.76% 4.9 million euros
- OTE +0.83% 4.4 million euros
The highest rise
- InterTech +4.56% 25 euros
- Unibios +4.29% 125,139 euros
- Construction of Crete +4.12% 226,713 euros
- ELBE +3.77% 2,007 euros
- Fourlis +3.26% 140,627 euros
The sharpest fall
- Progressive -9.09% 2,000 euros
- Leventeris -5.07% 521 euros
- CNL Capital -2.88% 14,839 euros
- Nafpaktos -2.77% 393 euros
- Medicon -2.40% 2,014 euros
Dimitrakopoulos: The new tech… blood in the Stock Market and the goal of a minimum growth of 30% per year
He continues to recover
The course of recovery from last Monday’s low (1,341 units) continues the Athens Stock Exchange, which now has as its primary objective the recovery of the psychological limit of 1,400 units.
Of course, the Greek market is still going through a period high uncertainty and low predictabilitywith the unknown “X” from abroad undermining the short-medium term course.
The sell off of last week, when the General Index lost €9 billion in two days, best demonstrates the lack of constants – even over a time period such as Augustwhich is traditionally characterized by a slow and relaxed investment behavior.
It is no coincidence that the Greek market is still has lost at least 5% since the beginning of the monthwhich has reduced this year’s average return to +7%. This means that the main stock market index has lost almost 50% of the – until a few weeks ago – satisfactory gains of 2024 (they reached up to +14%).
The international uncertainties they are the No.1 risk for the course of Athens Avenue, which in the absence of domestic catalysts and internal news, is forced to follow the trends of foreign capital.
On the other hand, intense liquidations have brought them back valuations of listed companies at particularly attractive levelswith P/E and Book Value P/BV ratios below 10x and 1x in many cases, especially Large Caps.
With all this against me, analysts are quick to recommend adoption defense strategies, prioritizing the solution of selective orders to listed companies with stable profitability, high dividend yield, high predictability and low volatility.
“The widespread view that ‘dip buying will prevail again’ will be judged in practice. Accordingly, the “panic crisis” that started in the “over-inflated” technological Nasdaq and in Japan, does not imply that profitable Greek listed companies with tidy balance sheets and a positive outlook will not continue to appreciate” explains the analyst characteristically Petros Steriotiscertified technical analyst, member of the British Society of Technical Analysts.
And he continues: “Prudent Greek investors are urged to stick to time-tested stock picking strategies based on fundamental analysis, taking advantage of “diagrammatically resistant” price levels and remaining committed to risk management tactics.”
Stationary Europe and Wall
Abroad, now, after the recovery from the great plunge of 6.4 trillion. dollars, the pan-European STOXX 600 it is almost unchanged at 498 points, failing to hold on to the morning’s gains.
On the other side of the Atlantic, pending data on wholesale inflation and retail sales, the Dow Jones loses about 150 units, while o S&P 500 declines marginally by 0.1%.
On the Board of the Stock Exchange: The resignation due to… PASOK and the purchases of Nebi in OTE
(The above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)