2024-06-25 12:00:54
In final week of June enters the Athens Inventory Trade, with the Basic Index struggling, for a number of days, in a slim vary of fluctuations, which extends from 1,400 to 1,460 factors. If the month-to-month losses don’t exceed 0.5%, it’s clear that the Greek market shouldn’t be going by way of the very best interval. And this turns into extra noticeable, if we think about that the folding from the current highs of 1,502 models quantities to -5.4%.
The final week of June, for a lot of analysts, is taken into account extraordinarily important for the short-term pattern, with the “resistance” of 1,400 models being the primary problem, as within the occasion of a lack of helps, the best way is initially opened for the 1,380 – 1,360 models and later for the 1,339 factors, which coincides with the 200-day transferring common. “The medium-term diagrammatic image will start to “distort” considerably within the occasion that the Basic Index registers consecutive closes under 1,400 models” characteristically factors out the authoritative analyst Petros Steriotis.
Inventory market: 13 listed corporations that straight distribute 691 million euros
The France issue
It’s clear that the 4 conferences of the G.D. till the tip of the month shall be largely decided by the peak of the… drama in France, on condition that subsequent Sunday (30/6) the primary spherical of parliamentary elections shall be held. The results of the poll fieldin reference to the second spherical of July 7, will form the degrees of political stability of the No.2 financial system of the Outdated Continent, which let’s not neglect that in 2025 it’ll additionally have to elect a brand new president.
As is well-known, authorities instability is the worst attainable state of affairs not just for France, however for all of Europe, together with Greece, because the lack of political predictability is a conventional enemy of the markets, as we have been taught in our nation through the multi-year financial disaster. The results of the poll fieldsubsequently, additionally considerations the Athens Inventory Trade, which remains to be thought of weak to exterior challenges.
“We might want to get to 7/7 to know the outcomes of the French elections and much more to see how the political scene in France will form up and whether or not Macron’s attainable co-government with the Nationwide Entrance will imply a change in fiscal coverage and positions that differ from these of Brussels. Till then, uncertainty will dominate the markets and managers will favor conservative methods» explains indicatively Dimitris Tzanas from Kyklos AHEPEY.
Dividends of 691 million euros are “lower”.
Past that, volatility is predicted to be exerted by the barrage of cuts for the rights to gather company awards, as they solely “lower” immediately and tomorrow dividend complete 13 listed, of which Metlen (1.5 euros/share), Motor Oil (1.4 euros/share), OPAP (0.25 euros/share), Titan Cement (0.85 euros/share), Viohalco stand out (0.12 euros/share), Cenergy (0.08% euros/share) and ELVALHALCOR (0.0.4 euros/share). In complete over the 2 days, the deductions concern dividends of 691 million euros.
Nonetheless, excluding the previous couple of weeks, throughout which low funding visibility and exogenous political uncertainty have had a damaging impact, the overall course of the Athens Inventory Trade stays constructive. One thing that’s eloquently mirrored in enticing valuations throughout the board (many P/Es are under 10x), resilient firm sizes, excessive dividend yields, stable macros, and back-to-back enterprise offers, which create new worth for shareholders and enhance obtainable liquidity for traders .
In some way, it’s no coincidence that within the first half of 2024, i.e. because the starting of the 12 months, the general change within the Basic Index remains to be +10%, with the cumulative positive factors of the final 3 years, based on the statistics of HellasFin, to achieve +53% and the capitalization to fluctuate steadily across the psychological restrict of 100 billion euros. A attainable stabilization of the market within the space of 1,445 – 1,450 models, in reality, will ship a sign of… safety to traders, on condition that the foundations for the completion of the current downward wave can have been laid.
The returns of the Basic Index
• -5.4% as of 5/20 (12 months excessive)
• -4.8% within the final 30 days
• +10.1% from the start of 2024
• +9.6% within the final 6 months
• +11.9% within the final 12 months
• +52.9% within the final 3 years
Offers price 7.2 billion euros are altering the “map” of Vitality in Greece
(The above is a product of journalistic analysis and doesn’t represent an invite to purchase, promote or maintain any inventory)