2024-08-22 12:54:36
In the area over 1,430 units returned today (21/8) the Athens Stock Exchangewith investors indulging in selective buying movementsleaving salesmen in second place.
Of course, the upward movement took place in low… tempogiven her lack of substantial catalystswhich would allow a convincing splitting of the resistors of 1,400 units.
Analysts’ attention, after all, has focused almost exclusively on his upcoming speech head of the Fed in Jackson Holewhere the kick-off is expected to be given for the reduction in US interest rates.
In this environment, at the 3rd meeting of the week, Mr General Index noted small up 0.49% and formed on 1,432.53 units, gaining seven points from Tuesday’s close (1,425.51 points).
The arc of diurnal variations was set at nine points (from 1,425.17 to 1,434.58 points), with the transaction turnover to range just at 69 million euros, of which 5.2 million euros related to pre-agreed packages.
On the board, now, the Eurobank jumped by +3.7%, providing a significant boost to the market, while the performance of AIA – Aegeanwhich benefited from the optimistic tourism data. On the other hand, Jumbo and Motor Oil lost more than 1%.
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1.3% profits in banks
The banking index, despite the sluggish start, gradually managed to pick up pace, ending in +1.39% and 1,277 units.
Her stock Eurobank its share increased to +3.74% and 2.08 euros National increased to +1.58% and 8.082 euros, its share Piraeus fell to -0.41% and 3.856 euros, while its share Alpha Bank closed at +0.22% and 1.5865 euros.
The picture on the dashboard
In the high-cap index (+0.60% and 3,488 points), its share Aegean expanded by 2.6% and exceeded 11 euros, approaching 1 billion euros in capitalization terms, while its share also showed gains of around 2% AIA. Her stock Titan Cement climbed above 33 euros (+1.3%), reaching a new all-time high, with the shares of PPC, ELVALHALCOR and EYDAP to gain by at least 1%. On the contrary, its share Elektor decreased to -1.7% and 2.02 euros. Motor Oil and Jumboat the same time, were reduced by 1.2% and 1.5%, respectively.
As for the mid-cap index (+0.16% and 2,269 points), the stock of PPA stood out positively at +2.3% and 26.1 euros, with its share Quest to be more than +1.7%. Her stock Dimand continued the recovery rally from the historical lows of 8 euros, climbing to 9.8 euros (+1.9%). Instead, its stock Lavipharm was limited to -1% and 0.85 euros. AVAX, EYATH and Optima lost up to 0.8%.
Overall on the stock market, 62 stocks advanced, 37 stocks declined, while 20 stocks remained unchanged. OR capitalization of the market ranged at 99.3 billion euros.
The highest turnover
- Eurobank +3.74% EUR 11.1 million
- Motor Oil -9.4 million euros
- Piraeus -0.41% 6.8 million euros
- National +1.58% 6.1 million euros
- Jumbo -1.59% 5.3 million euros
The biggest rise
- Tria Alpha +7.84% 841 euros
- Alpha Real Estate +5.77% 11,717 euros
- Athens Medical +4.50% 13,227 euros
- Kyriakoulis +4.04% 4,113 euros
- Eurobank +3.74% EUR 11.1 million
The sharpest bend
- Frigoglass -5.22% 2,133 euros
- BIOCARPET -4.76% 48,696 euros
- Q&R -4.10% 74,750 euros
- Intercontinental -3.20% 4,401 euros
- KEPENOU -3.03% 3,958 euros
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Stock Market Accumulation
It seems that the Athens Stock Exchange has entered a period of… waiting, which –in the absence of domestic news coverage– receives sentiment from abroad in order to shape the short-term trend.
Today, the General Index returned to area of 1,430 unitswith 1,440 units being the first point resistancebefore the “big” showdown with 1,478 units.
On the other hand, the 1,400 units and mainly the 1,375 units, which coincide with moving average of the last 200 daysstill constitute the mainstay.
Athens Avenue seems to have recovered from the August 5th shockhaving recouped most of the month’s losses. However, the main index is still 3% lower than at the end of July.
The full return to pre – sell off levels (1,478 units) assumes a further push from buyers. But traders seem to prefer to take their foot off the gas at the moment.
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Purchases are pending
And this, mainly, because they are waiting to see the intentions of the Federal Reserve regarding the course of international interest rates. The head of the American bank, Jerome Powell, will “attend” the Jackson Hole Conferencewith his speech next Friday gathering all eyes.
Analysts expect Powell to send a clear signal for a rate cut in September, while the size of that cut is of great interest. Will it be 25 or 50 basis points?
Until the markets gain a better visibility on this, it is possible that the variability and the nervousness of recent days, which reasonably affects Athens as well.
Tonight, in fact, Fed will publish them minutes from the last meeting in Julywhich usually capture the current balance of power among the members of the central bank’s executive board.
Within this framework, the pan-European STOXX 600 increases controllably to +0.29% and 513 points, while the indices on Wall Street also register marginal changes, where the Dow Jones is stable at 40,830 units.
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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)