2024-08-15 07:52:07
In a dynamic way he completed it Athens Stock Exchange the last meeting before the holiday of the fifteenth of Augustwith buyers continuing to “clipping» of intense liquidations since the recent sell off.
Sort of like that, after one four-day positive streakthe Greek market managed to recover cumulatively by +6.1%, overcoming a large part of it August dive and returning to the area of 1,420 units.
The improved climate abroad and the attractive valuations on the board were the best “balm” for Athens Avenue, which of course “sees” the transaction volume to decline because of summer season.
In this environment, during today’s meeting, Mr General Index scored remarkable 1.42% increase and formed on 1,423.05 unitsgaining nearly 20 points from Tuesday’s close (1,403.17 points).
The arc of diurnal variations was set at 15 units (from 1,408.54 to 1,42355 units), with the transaction turnover to range at 96 million eurosof which 5.6 million euros related to pre-agreed packages.
On the board, now, the National achieved a rally of more than 4% and approached 8 euros again, with the shares of Eurobank, Motor Oil, Metlen, OPAP and Alpha to be enhanced up to +2%. By 4.2%, the Jumbowhich drew a significant reaction after plunging to 15-month lows.
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+2.3% jump in banks
The banking index, boosted by the optimistic reports of international houses, significantly extended the comeback, ending at +2.35% and 1,270 unitswhich narrowed the distance from this year’s highs (1,354 points) to -6%.
Her stock National “starred” at +4.1% and 7,924 euros, the share of Eurobank increased to +2.00% and 2.04 euros, its share Piraeus closed at +0.92% and 3.934 euros, while its share Alpha strengthened to +1.78% and 1.598 euros.
The picture on the dashboard
In the high capitalization index (+1.52% and 3,470 points), its share Jumbo rose to +4.2% and 23.4 euros, reacting to recent 15-month lows (<22 euros), while its share Titan Cement climbed to +3.1% and 31.4 euros. Cenergy, Electric and ELVALHALCOR gained around +2%, with their shares OPAP, GEK TERNA, Viohalco, Metlen and Motor Oil to be next +1%. On the contrary, its share Sarantis lost about 1%.
Regarding the mid-cap index (+1.30% and 2,262 points), the share of HE HAS stood out positively at +3.8% and 4.62 euros, putting a stop to the big losses of the last period. Intrakat, Profile and Intracom expanded from +2.5% to +3.1%, while the shares of Dimand, Ideal, Lavipharm, Kri Kri, PPA, Technikis Olympiakis and Optima followed by more than +1%.
Overall on the stock market, 74 stocks advanced, 29 stocks declined, while 16 stocks remained unchanged. OR capitalization of the market ranged at 98.5 billion euros.
The highest turnover
- National +4.13% 17.1 million euros
- Piraeus +0.92% 15.9 million euros
- Eurobank +2.00% €10.6 million
- Motor Oil +1.24% €7.0 million
- Metlen +1.31% EUR 6.2 million
The biggest rise
- Alpha Real Estate +8.66% 7,185 euros
- Pairis +7.81% 390 euros
- Frigoglass +4.81% 109 euros
- Moda +4.35% 14,109 euros
- Jumbo +4.27% EUR 5.5 million
The sharpest bend
- Biocarpet -12.83% 194,165 euros
- Agricultural House of Spyros -9.92% 1,257 euros
- Elite -9.17% 381 euros
- Sell -9.09% 1.267 euro
- Bitros -4.41% 455 euros
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Comeback… to be continued
In the area over 1,400 units managed to stabilize today (14/8) the Athens Stock Exchange, which continued the path of recovery after the extensive sell off of last week.
Yesterday, for the first time since August 1, the General Index managed to exceed the critical psychological level, while today it continued in the same pattern, having pulled out a reaction of +6.1% from the lows of August 5 (1,341 points).
However, on the other hand, it still does losing -3.7% since the beginning of the month, something he has limited to +9.5% the return of 2024 (from up to +14% previously).
Undoubtedly, the attractive valuations on the board -especially after the robust financial results of the first semester-, in combination with the improved climate abroadfavor the return of buyers.
Of course, since we are going through the means Augustwhen investment interest is traditionally declining and trading volume is decreasing, we cannot draw firm conclusions about the medium-term trend.
Therefore, no one knows exactly how much “fuel” Athens Avenue still has in the tank to complete the comeback to pre sell off levels, i.e. in the region of 1,470 units.
On a technical level, the 1,375 unitswhich coincide with the moving average of the last 200 days, constitute the key support levels, while the 1,440 units they are the next point of resistance.
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Improved climate in Europe, Wall
Abroad, now, investors’ attention is focused on today’s figures for the inflation in the USwhich showed a slowdown in the price index at 3-year low of 2.9% (against an estimate of 3%).
After this development, analysts “bet” that the Federal Reserveunder the fear of an upcoming recession in the world’s No.1 economy, will proceed next September with a brave relaxation of monetary policy –possibly more than 50 basis pointss.
However, there are not a few who believe that the US Federal Reserve is rushing to act too late, as historically high interest rates have already hurt the economy, which is on a path to “bumpy landing”.
Within this framework, the pan-European STOXX 600 strengthens to +0.3% and 503 units, with the British one FTSE 100the German DAX and Italian FTSE MIB to earn from at least 0.5%.
On the other side of the Atlantic, buoyed by the satisfactory decline in inflation, the Dow Jones starts the session with a rise of around 100 points. S&P 500 and Nasdaqon the contrary, they lose up to 0.5%.
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(The above is a product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)