2024-08-14 07:05:07
Above 1,400 unitsfor the first time since August 1, returned today (13/8) to Athens Stock Exchangewith them buyers to earn to their limit sellers and yes recover an important milestone.
In this way, the Greek market, even if it was difficult, continued the effort recovery of recent liquidationswhich they now have “scissored” to -5% since the beginning of August.
Of course, we must not forget that the challenges remaina fact which preserves the caution and the low predictability not only of the Greek but also of the international stock markets.
More specifically, in the second meeting of the week, Mr General Index noted small up 0.36% and formed on 1,403.17 unitsgaining nearly five points from Monday’s close (1,398.20 points).
The arc of diurnal variations was set at 10 units (from 1,394.62 to 1,404.62 units), with the transaction turnover to range at 82 million eurosof which 4.2 million euros related to pre-agreed packages.
On the board, now, her stock Motor Oil sank to -3.6% and to 21 euros, i.e. the lowest point of the last 20 months, as a result of removal from MSCI Standard Greece. OR Methyleneat the same time, lost from 1%, while Piraeus Street, Ethniki, Alpha, PPC and OPAP strengthened by more than +1%.
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Positive signs for the banks
The banking index managed to keep “open” the path of recovery from recent lows, ending at +0.80% and 1,241 units.
Her stock Piraeus increased to +1.78% and 3.898 euros, its share National its share followed at +1.33% and 7.61 euros Alpha Bank traded at +1.29% and 1.57 euros, while its share Eurobank folded to -0.94% and 2.00 euros.
The picture on the dashboard
In the high-cap index (+0.40% and 3,418 points), the deletion from the MSCI Standard Greece led its share Motor Oil to the lowest levels since December 2022, falling to -3.6% and 21 euros. The shares of Metlen – Aegean Airlines. On the contrary, the shares of Cenergy and Viohalco strengthened around +2%, with the shares of Coca-Cola, PPC and OPAP to earn at least 1%.
Regarding the mid-cap index (+0.57% and 2,232 points), the share of Cree – Cree stood out positively at +2.5% and returned a breath from the records of 12 euros. Optima Bank, Technical Olympiaki, EYATH, HEXA, Lavipharm, Ideal and Profile followed at +1%. On the other hand, its stock Plastics of Thrace retreated by 1.5%.
Overall on the stock market, 53 stocks advanced, 37 stocks declined, while 26 stocks remained unchanged. OR capitalization of the market ranged at 97.3 billion euros.
The highest turnover
- Motor Oil -3.67% 12.7 million euros
- Piraeus +1.78% 10.8 million euros
- OTE +0.14% 10.4 million euros
- National +1.33% 6.7 million euros
- Eurobank -0.94% EUR 6.0 million
The biggest rise
- Klukina – Lappas +5.84% 37,208 euros
- Jirakian +3.46% 1,345 euros
- LANAKAM +3.31% 93 euros
- Interwood +3.04% 14,025 euros
- Alumyl +3.03% 8,120 euros
The sharpest bend
- Agricultural House of Spyros -9.66% 3,637 euros
- Construction of Crete -6.78% 30,312 euros
- Pairis -6.34% 1,030 euros
- Intertech -5.56% 1,786 euros
- Motor Oil -3.67% 12.7 million euros
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Dip for Motor Oil
A negative surprise was hidden in last night’s restructuring of the MSCI indices, as the stock of Motor Oil was excluded from Standard Greece, as a result of which it was transferred to smaller Small Cap index.
The unexpected decision, which led the listed company’s share to 21 euros and to 20 month lowswill be set to application after the completion of its transactions August 30th.
By removing Motor Oil, which is expected to trigger significant capital outflows, from the index Standard Greece the following will remain nine shares: OTE, OPAP, Jumbo, PPC, Eurobank, Alpha Bank, Ethniki, Piraeus and Metlen.
Recovery… cont
All this, meanwhile, is taking place while the General Stock Market Index is fighting its own “battle” to recover from last week’s big losses.
It is characteristic that, so far, the main stock market index has increased by +4.6% from last Monday’s lows (1,341 units). However, he still loses -5% from the beginning of Augustwhich has “scissored” the 2024 yield to +8.5%.
Sure, though exceeding 1,400 units will further improve investor sentiment, which has largely relied on attractive valuations on the board.
The dangers abroad
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 it seems to constitute the biggest unknown X, while we must not forget the risk of recession in the strongest economy on the planet, namely the American one.
Today, in fact, investors are evaluating the critical macroeconomic data for its course inflation (producer prices), which will contribute to shaping 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 framework, the pan-European STOXX 600 strengthens slightly by +0.19% and returns to the area of 500 units, while early in the morning the Nikkei 225 in Tokyo it closed at +3.4% and 36,232 units.
On the other side of the Atlantic, Dow Jones starts with a satisfactory increase of 150 units, with S&P 500 and Nasdaq to earn from 1% and 1.5%, respectively.
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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)