2024-09-20 06:27:31
The Athens Stock Exchange may have ended at the highest level of the day, but the comparison with the leaping course of foreign markets was… merciless.
And that’s because, after last night’s attack reduction in US interest rates by 50 basis points, o STOXX 600 strengthens today by at least +1.2% and o Dow Jones jumps almost 500 points, setting the stage for new all-time records.
The picture in Athens, by contrast, which managed to find a rudimentary pace only towards the end of the day, certainly does not leave investors satisfiedwith the market remaining locked in the range of 1,400 – 1,450 units for the 27th consecutive session.
Specifically, on the 4th day of the week, Mr General Index he noted softly an increase of just 0.63% and formed on 1,428.39 unitsgaining about nine points from Wednesday’s close (1,419.50 points).
The arc of diurnal variations was set at 12 points (from 1,416.78 to 1,428.42 points), with the transaction turnover to range at 125 million euros, of which 17.4 million euros related to pre-agreed packages.
On the board, now, o OTE climbed to the highest levels since the summer of 2023. Shares of Alpha, Metlen and Eurobankwhereas Lamda, PPC and Intralot they “jumped” to +3%. On the contrary, National and OPAP closed with small losses of 0.5%.
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Small profits in the banks
The banking index, without impressing, finished just at +0.57% and 1,226 unitsstill about 9.5% away from this year’s highs (1,354 units).
Her stock Alpha strengthened to +1.50% and 1.592 euros, its share Eurobank followed at +1.12% and 1,992 euros, its share Piraeus traded at +0.71% and 3.82 euros, while its share National was limited to -0.49% and 7.298 euros.
The picture on the dashboard
In the high-cap index (+0.71% and 3,463 points), its share OTE was at its highest level since July 2023, climbing to +1.6% and 15.4 euros. Her stock In Lam approached this year’s records (7.6 euros), thanks to today’s +3.3%, which brought it to 7.49 euros. Its share also increased by 3% PPCwhile the Metlen, Titan Cement, Viohalco, Sarantis and EYDAP they won at least 1%. On the contrary, the shares of Coca-Cola and Autohellas retreated by 0.6% and 0.7%, respectively. At -0.5% followed by OPAP.
As for the mid-cap index (+0.76% and 2,323 points), attention focused mainly on Intralotwhich stood out at +3.1% and €1.16 ahead of entry into the FTSE Russell Mid Cap. Its share also closed close to the historical high of 5.4 euros Profilewhich expanded by 3%. Intranets and EYATH rose by 2%, with the shares of Ideal, Lavipharm and Intracom to be next +1%. Instead, its stock Cree – Cree corrected from the consecutive records, as a result of which it folded to -3% and 13 euros.
Special mention must be made of her stock Attica Bank, which put the brakes on the streak of six consecutive negative meetings, recovering by almost +14%. At the same time, its stock Performance Technologies regained the €7 milestone for the first time since August 1st.
Overall on the stock market, 60 stocks advanced, 26 stocks declined, while 31 stocks remained unchanged. OR capitalization of the market ranged at 98.3 billion euros.
The highest turnover
- National -0.49% 28.5 million euros
- Piraeus +0.71% 16.2 million euros
- Alpha +1.50% EUR 11.2 million
- OTE +1.65% 10.7 million euros
- Metlen +1.87% EUR 7.3 million
The biggest rise
- Attica Bank +13.97% 297,423 euros
- Performance Technologies +6,94% 109.534 ευρώ
- Athens Medical +4.00% 539 euros
- GEVKA +3.82% 15,064 euros
- Cursor +3.36% 2,953 euros
The sharpest bend
- Kepenou -8.13% 4,453 euros
- Frigoglass -8.02% 39,379 euros
- Nafpaktos -4.03% 749 euros
- Kri Kri -2.99% 266,714 euros
- Jirakian -2.40% 1,226 euros
Sispas: The desks for the new… degree and the unnecessary (?) stock split
The Stock Exchange was holding… an umbrella
With a step noted continued today the Athens Stock Exchange, as the fertile climate abroad did not prove capable of “raising” the General Index, which lost another chance to approach this year’s highs of 1,502 units.
OR last night’s decision by the Federal Reservei.e. the US Federal Reserve, to proceed with an aggressive reduction – the first since the pandemic – of interest rates by 50 basis points was the “X” factor of the meeting.
This is because investors believe that the Fed, following this move, is preparing for the “soft landing” scenariowanting to avoid an abnormal recession in the US economy, which would result in GDP contraction.
In fact, let’s not forget that analysts are no longer ruling out one more intervention of 50 basis points on US interest rates by the end of the year, which would bring the cumulative rate cut to 100 basis points.
All this, reasonably, improve the mood in the international stock marketswhich, however, it did not seem to particularly move Athenswhich for several weeks (27 consecutive meetings) cruises between 1,400 and 1,450 unitsunable to escape this narrow range of variation.
Seasons… 2007 the market of mutual funds lives
Of course, we must not forget that the upcoming placement at National Bank still maintains volatility, given that several foreign funds are liquidating various positions, in order to obtain the required liquidity and participate in the process of selling part of the 18.3% currently controlled by the HFSF.
From today’s agenda, in the meantime, the investor must keep that the Viohalco publishes shortly (after the closing of the meeting) the financial data of the first semester, as well as that o ADMIE is still in focus amid developments for the Crete – Cyprus cable.
Tomorrow, too, we have it rebalancing of the FTSE Russell indiceswith Cenergy being added to Large Cap and Viohalco being “downgraded” to Mid Cap, which Intralot is also entering.
A record on Wall Street
With the Fed in the air, after aggressively cutting interest rates by 50 basis points, international markets are with… comfort in the greenwhile improving risk appetite.
Thus, the pan-European STOXX 600 dynamically strengthens to +1.27% and 521 units, with CAC 40 in Paris to increase by at least 2%. The index is at +1.5% DAX in Frankfurt.
On the other side of the Atlantic, Dow Jones jumps by nearly 500 points, climbing to a new all-time high (42,011 points). The indices also show gains of 1.5% and 2.1% S&P 500 and Nasdaqrespectively.
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(The above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)