2024-07-12 20:46:53
Sta day highs said goodbye to today’s meeting (12/7) the Athens Stock Exchangeas the positive climate abroad strengthened the buying interest, as a result of which the General Index reached 1,452 units.
It is, in fact, about highest level in the last one month (from July 10), which confirms the relatively satisfactory course of the Greek market, which gained at least 0.8% in the five-day period.
On the other hand, however, it is clear that further work is required fuel and young people catalystsin order to approach this year’s peaks (1,502 units), which are still 3.5% away from current levels.
In this context, during today’s meeting, Mr General Index noted small up 0.44% and closed at day highs of 1,452.28 units, gaining about 6.5 points from Thursday’s close (1,445.91 points).
The arc of diurnal variations was set at 11 units (from 1,441.48 to 1,452.28 units), with the transaction turnover to range at 103 million eurosof which 16 million euros related to pre-agreed packages.
On the board, now, the Alpha became the focus of buyers, as the optimistic HSBC report (target price 3%) gave a boost to +2.4%. The index-weighted Coca Cola “flew” to +2.6%, h In Lam was at a 2.5-year high, while National and Motor Oil fell by almost 1.5%.
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Upward “turn” in the banks
Despite intra-session pressures, the bank index managed to make a… comeback, ending at +0.60% and 1,273 units.
Her stock Alpha expanded to +2.44% and 1.68 euros, its share Piraeus increased to +1.58% and 3,728 euros, its share Eurobank traded at +1.01% and 2.096 euros, while its share National was limited to -1.43% and 7.87 euros.
The picture on the dashboard
In the high capitalization index (+0.61% and 3,535 points), its share Coca Cola “flew” to +2.6% and returned to 32.3 euros, reaching one breath from the resistances of 32.8 euros. THE In Lam reached a new 2.5-year high, strengthening to +1.7% and 7.4 euros. AIA, OPAP and Cenergy closed close to +1%, while its share recovered by 0.8% Jumbo, which the previous two days was at the center of intense pressure. Instead, its stock Motor Oil folded to -1.4% and 22.6 euros, remaining at the lows of 2024. The shares of PPC – Autohellas.
Regarding the mid-cap index (+0.32% and 2,319 points), the stock of Intranets stood out positively at +1.2% and approached 5 euros again. Fourlis, Profile and Intralot followed by around +1%. On the contrary, its share was reduced by 2.9% Lavipharmwhile the shares of PPA and Technical Olympian slipped by up to 1.5%. Special mention should be made to Cecropswhich soared by 6.2%, following the acquisition of 4.6% by CEO Petros Suretis.
Overall on the stock market, 60 stocks advanced, 36 stocks declined, while 15 stocks remained unchanged. THE capitalization of the market ranged at 100.9 billion euros.
The highest turnover
- National -1.43% 22.3 million euros
- Jumbo +0.80% 14.8 million euros
- Motor Oil -1.48% 7.1 million euros
- Alpha +2.44% 7.1 million euros
- OTE +0.43% 6.6 million euros
The biggest rise
- Kecrops +6.38% 70,500 euros
- Minerva +5.88% 13,067 euros
- Moda +4.43% 5,048 euros
- DAIOS +3.66% 5,116 euros
- Athens Medical +3.13% 16,792 euros
The sharpest bend
- Attica Bank -7.58% 226,111 euros
- Domiki Crete-3.92% 35,901 euros
- Lavipharm -2,95% 53.324 ευρώ
- SIDMA -2.63% 4,190 euros
- ELINOIL -2.51% 87,594 euros
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Silent rise in the Stock Market
And the Athens Stock Exchange may have ended at the highest level of the last month, having exceeded 1,450 points, but the General Index continues to move in an environment of increased volatility, reduced turnover and low tempo.
The difficulty of a convincing upward move towards the peaks of 1,502 units it turns out to be more than obvious, despite the fact that we have to recognize the effective defense of critical and valuable supports of 1,400 units.
Also bearing in mind that the climate abroad remains volatile and nervous, and that we are getting closer and closer to the fast-paced August meetings, it is quite possible that this stabilizing voltage to get an extension in the coming weeks as well.
Especially since the moment domestic news presents a lack of interest, given that all important developments for the Greek market have been shifted in time for September and the rest of August.
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“The important “defenses” that recently came out in the area of 1,400 units make this level an important support for the next meetings,” the analyst typically emphasizes Petros Steriotis.
Tonight, anyway, Athens Avenue is waiting for the German house SCOPE – the first to restore the country to investment grade status – to publish the next report on the Greek economy, with the realistic expectation that it will concern the possible upgrade of the outlook to positive.
“The return of the General Index to values higher than 1,435 removes the risk of a pullback to 1,360 and brings the index back to the fluctuation band of 1,435 – 1,500. The levels of 1,450, 1,460 and 1,480 are now obstacles, but of minor importance, to the upward trends of the index,” points out, for her part, the HellasFin.
Europe at a one-month high
Abroad, now, investors are rushing to value her US inflation slows to 3% in June (from 3.3% in May), which reinforces expectations for a first rate cut in September. At the same time, attention is drawn to bank figures of the second quarter.
Somehow, after yesterday’s losses, Wall Steet is returning to positive territory, with the S&P 500 to strengthen by 0.5% and move above 5,600 units. By 100 units it also increases Dow Jones. In Europe, at the same time, STOXX 600 widens to +0.5% and 522 points, rebounding from last month’s highs.
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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)