2024-09-07 02:04:24
Sellers on the Athens Stock Exchange may have been in control throughout the session, but buyers managed to pare losses towards the end and drive the General Index to intraday highs.
In a way, the Greek market followed suit satisfactory course of the first week of Septemberwhich “ran off” with cumulative rise of 0.8%in a clear indication differentiation and autonomy in relation to the outside.
The pleasant ones corporate sizes of the first semester and the expectations for the upcoming verdicts of DBRS (tonight) and Moody’s (13/9) provided Athens with the necessary supplies to withstand the volatility of foreign markets and stay within striking distance of the target of 1,450 units.
Specifically, at the last meeting of the Thursday, Mr General Index noted small down 0.24% and finished at the high of the day 1,443.13 unitslosing about 3.5 points from Thursday’s close (1,446.56 points).
The arc of diurnal variations was set at seven units (from 1,437.66 to 1,443.78 units), with the transaction turnover to range just at 74 million eurosof which the 13.5 million euros related to pre-agreed packages.
On the board, now, the shares of Eurobank and National slipped by 1.3%, while its share fell by 1% OTE. On the other hand, Jumbo managed to continue the upward reaction, exceeding 24.5 euros.
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Losses of about 1% in the banks
The banking index, despite the positive developments (upgrade by Fitch, higher prices – targets), remained below 1,300 points, falling to -0.93% and 1,254 units.
Her stock National its share was limited to -1.30% and 7.59 euros Alpha folded to -0.70% and 1.559 euros, its share Eurobank traded at -1.31% and 2.03 euros, while its share Piraeus decreased to -0.28% and 3.981 euros.
The picture on the dashboard
In the high-cap index (-0.27% and 3,504 points), the share of OTE retreated to -1% and 14.99 euros, while losses were also at the same levels for the shares of ELVALHALCOR – Viohalco. At the same time, the shares of Autohellas and Cenergy slipped by 1.7% and 1.4%, respectively. On the contrary, its share Jumbo continued the upward reaction, gaining 2.1% and returning to 24.8 euros. A 2% increase was also recorded by Sarantiswhich jumped to 11.1 euros.
Regarding the mid-cap index (-0.46% and 2,334 points), the stock of HE HAS stood out negatively at -1.3% and 4.6 euros, with his share ADMIE to fall to -1.1% in the middle of the thriller for the electric connection of Crete – Cyprus. The shares of PPA, Intracom, AVAX, Ideal, Fourlis and Austriacard lost 1% to 1.5%. Conversely, the shares of Dimand and Quest Participations were strengthened by 1%.
Overall on the stock market, 43 stocks advanced, 58 stocks declined, while 21 stocks remained unchanged. OR capitalization of the market ranged at 99.8 billion euros.
The highest turnover
- Piraeus -0.28% 10.1 million euros
- National -1.30% 9.7 million euros
- Eurobank -1.31% 8.4 million euros
- Terna Energy -0.10% 6.7 million euros
- Jumbo +2.14% EUR 6.6 million
The biggest rise
- Leventeris +8.33% 403 euros
- Minerva +6.19% 3 euros
- Frigoglass +5.83% 8,499 euros
- Bitros +4.62% 3,200 euros
- Jirakian +4.59% 1,870 euros
The sharpest bend
- Mermeren -7.41% 2,005 euros
- Attica Publications -6.81% 1,434 euros
- NAKAS -4.86% 1,320 euros
- Attica Bank -4.66% 50,032 euros
- Moda Bango -4.00% 2,947 euros
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“Keep” the weekly earnings
The last session of the week was completed today by the Athens Stock Exchange, which dropped curtain in the first five days of September -a month, which holds many emotions.
In spite of nervousness and the stagnation of foreign markets, Athens Avenue showed a clear intention differentiation and autonomywhich allowed her to earn 0.8% on the first days of the month.
Of course, no one can know for sure what will happen in the next sessions, since, as mentioned above, we are going through a period of high volatility with several unknown Xof which the main one is the fear of potential recession in the American economy.
Exclusively for us, listed companies continue to make impressive announcements financial figures for the first semesterwhile the arrival of autumn slowly fills their agenda potential business deals.
Let’s not forget that we already have its merger Attica Bank with Pankritia Bank (followed by AMK), the launched AMK in Cenergybut also its investment Aegean Airlines in Volotea.
Tonight, meanwhile, DBRS will publish the standard report on the Greek economy, while next Friday is the crucial appointment with Moody’swhich is the last rate agency to keep the Greek bond in non-investment grade.
Today at noon, also, the official data on his course became known of Greek GDP in the second quarter of 2024which stood at +2.3%.
All this, of course, “runs” parallel to the processes taking place in National Bankwhich at the end of September – beginning of October will start the process of selling a part of the 18.3% held by the HFSF.
The General Index, within this context, seems to focus on effort exceeding 1,450 unitswhich, in the event of a split, pave the way for further convergence with the highs of the year of 1,502 units.
On the other hand, in a possible pullback, the 1,400 units still constitute the mainstay.
Volatility in US, Europe
On the foreign side, investors’ attention turns to today’s figures for the new jobs in the USwhich confirmed that the economy is slowing, maintaining fears of a possible “crash landing”.
The August data showed that the new jobs amounted to just 142,000 in Augustdespite analysts expecting a performance of 161,000. “The evidence suggests risks are rising, while the labor market is clearly contracting,” Carson analyst Sonu Varghese told CNBC.
All of the above are very likely to influence her decisions Federal Reserve for the size of the -almost planned for September- interest rate cut. It will be 25 basis pointsas predicted in the prevailing scenario, or the fear of an impending recession will lead to a “knife” 50 base units;
With all this in mind, Wall Street is marginally volatile at the start of the session, with Dow Jones to earn 0.1% and him S&P 500 to lose 0.4%. On a weekly basis, however, the losses are the worst since April. At the same time, Mr STOXX 600 in Europe it strengthens slightly to +0.27% and 513 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)