2024-08-23 03:25:06
The course of accumulation continued today (22/8) on the Athens Stock Exchange, with the buyers beating the sellers for the second consecutive session, remaining within a shooting distance of the resistances of 1,440 units.
On the other hand, however, transactional turnover maintained at cachetic levels, not allowing a convincing upward movement, while the Greek market seems to have running out of “fuel”after the recent recovery rally from the “Black Monday” dip (5/8).
And all this, while attention of analysts is directed abroad – and above all, to the issue of US interest rates, which out of shocking prospect will start to are reduced from next September, offering precious breathers to international markets.
In this context, at the 4th meeting of the week, Mr General Index scored marginal 0.25% increase and formed on 1,436.11 unitsgaining 3.5 points from Wednesday’s close (1,432.53 points).
The arc of diurnal variations was set at seven points (from 1,429.80 to 1,436.25 points), with the transaction turnover to range just at 76 million eurosof which 3.2 million euros related to pre-agreed packages.
On the board, now, the Motor Oil expanded dynamically by 2.6%, with its share Jumbo to fall to +2%. At the same time, Eurobank “erased” intra-session losses and reached one breath from 2.10 euros. On the other hand, Mr OTE retreated below 15 euros.
Stock Exchange – Viohalco: Sees 6 euros again, +13% since “Black Monday”
The banks are “back”.
The banking index, although intra-session found itself losing up to about 1%, finally closed at +0.30% and 1,281 unitshelping to end the market on a positive note.
Her stock Eurobank its share increased to +0.48% and 2.09 euros National increased to +0.87% and 8.152 euros, its share Alpha traded at +0.47% and 1.594 euros, while its share Piraeus decreased to -0.88% and 3.822 euros.
The picture on the dashboard
In the high-cap index (+0.26% and 3,497 points), its share Motor Oil “flew” to +2.6% and 21.7 euros, while the shares of Viohalco and Elektorwhich increased by more than +3%. Her stock Jumboat the same time, increased by 2%. On the contrary, his share OTE fell by 1.6% and lost 15 euros. Its share also fell by 1.2% Cenergywhich rebounded from historic highs.
Regarding the mid-cap index (-0.16% and 2,265 points), the stock of Cree Cree decreased to -0.8% and 12.1 euros, as from today it was traded without the right to the dividend of 0.35 euros (gross). Intracom and Quest slipped around -1.5%. Instead, its stock Intralot stood out positively at +1.6% and 1.12 euros, with the shares of Trade Estates and EYATH to follow at +0.7% and +0.6%, respectively.
Overall on the stock market, 52 stocks advanced, 38 stocks declined, while 27 stocks remained unchanged. OR capitalization of the market ranged at 99.5 billion euros.
The biggest turnover
- Eurobank +0.48% EUR 12.8 million
- National +0.87% 12.0 million euros
- Piraeus -0.88% 10.0 million euros
- Motor Oil +2.65% 6.8 million euros
- Alpha +0.47% €3.9 million
The highest rise
- VIS +9.86% 234 euros
- Mouzakis +5.79% 255 euros
- Kecrops +5.67% 40,157 euros
- Iktinos +4.49% 29,335 euros
- Eurofarm +4.26% 10,885 euros
The sharpest fall
- Centric -2.37% 2,049 euros
- OTE -1.65% 3.6 million euros
- Intracom -1.57% 169,502 euros
- Unibios -1.47% 53,832 euros
- Quest -1.31% 73,695 euros
Stock Market: Which Stocks Do… Champion the Returns
Standstill before the Fed
The Athens Stock Exchange remained focused abroad, as the absence of “heavy” domestic news has focused exclusively on the developments surrounding US interest rateswhich emerge as a key factor of the period.
Yesterday, the minutes of the US Federal Reserve showed that several Fed officials had proposed cutting the high interest rates from the July meeting. And this proves that a front has already formed in favor of starting the process easing of monetary policy.
The above acquires increasing weight if we consider that tomorrow, in the framework of the established banking conference in Jackson Hole in the USA, we await the speech of its head Federal Reserve, Jerome Powell.
Possible confirmation of expectations for a first cut in US interest rates within September it is clear that it will satisfy the market, which is “thirsty” to see it cost of money to begin to decrease.
All this, reasonably, also “touches” the Greek market, which is in the midst of a relatively “dead” period from a news perspectivecontinues to gain momentum from developments abroad.
Somehow, the General Index has hopefully reached the area of 1,430 units, having rebound by 7% from the “Black Monday” sell off (5/8). Nevertheless, it still does losing 2.8% from the August level.
A possible split of 1,440 units will confirm the upward trend of the Greek market, while it will bring G.D. faced with the strong resistances of 1,475 – 1,478 units.
On the other hand, the 1,400 units and especially the 1,375 units, which coincide with the moving average of the last 200 days, still constitute the main support, in case of another pullback.
Positive signs in Europe, Wall
Abroad, with most stock market indices having recovered their total “Black Monday” lossesattention focuses on the developments around the US interest rateswhich monopolize investment interest.
Somehow, the pan-European STOXX 600 strengthens to +0.58% and 516 points, continuing the path of accumulation. Small gains are also recorded by the indices in Wall Streetwhere Dow Jones and S&P 500 rise up to 0.2%.
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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)