2024-08-13 06:34:43
Last night’s restructuring of its indices hid a negative surprise MSCIas its stock Motor Oil was excluded from it Standard Greecethereby moving it to the smaller Small Cap index.
The unexpected decision, which is expected to bring the listed stock to the fore at today’s meeting Athens Stock Exchangewill be set to application after the completion of its transactions August 30th.
With the removal of Motor Oil, which is estimated to trigger significant capital outflowsthe following nine stocks will remain in the Standard Greece index: OTE, OPAP, Jumbo, PPC, Eurobank, Alpha Bank, Ethniki, Piraeus and Metlen.
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All this, meanwhile, is taking place while the General Stock Market Index is fighting its own “battle” for recovery of large losses of the previous week.
It is characteristic that, so far, the main stock market index has increased by +4.5% from last Monday’s lows (1,341 units). However, it still does losing -5.4% since early Augustwhich has “scissored” the 2024 yield to +8%.
Sure, possible exceeding 1,400 units will further improve investment psychology, which is also based on attractive valuations on the board.
Unknown “X”
On the other hand, however, it is clear that the international environment remains volatile and unstable, with the current situation harboring several risks.
The pending conflict between Iran and Israel in the Middle East seems to recommend him larger unknown Xwhile we must not forget the risk of recession in the strongest economy on the planet, i.e. the American one.
Today, in fact, investors are waiting for some critical macroeconomic data on the path of inflation (producer prices), which will help shape the final balances before the September decisions on the level of interest rates.
It is recalled that the most prevalent scenario is Federal Reserve to cut interest rates by 50 basis points – under the sword of Damocles and the possible recession.
Within this context, the comeback of international markets seems to have now “frozen” in anticipation of newer developments, which is eloquently reflected in the marginal fluctuations of stocks.
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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)