2024-05-13 11:47:40
A brief pause, before trying to break them apart resistors of 1,500 unitsit seems that today (13/5) the Athens Stock Exchangewith investors to assimilate the acquired of the last period.
The Greek market, which runs an unbroken 35% rally since last October’s lows, it is very close to the next milestone, any breach of which will unlock the road to 1,550 units.
It stands to reason, of course, that in this uptrend, buyers will make some… stopsin order to take breaths and to secure strong profits. Therefore, today’s stagnation at zero reverses the dynamic positive momentum.
More specifically, during the first meeting of the week, Mr General Index notes imperceptibly down 0.16% and is formed on 1,481.64 unitslosing about 2.5 points from Friday’s close (1,484.06 points).
The arc of diurnal variations spans five units (1,481.53 to 1,486.12 units), with the transaction turnover to be in the range of 5 million euros.
On the board, now, her stock Elektor jumps over 2.5%, thanks to a generous return of capital of €0.50/share. THE Titanis making a new effort for 32 euros, while controlled pressures are exerted on Motor Oilwhich loses about 1.5%.
Banks stand still
The banking index digests recent 8-year highs, resulting in a fold to -0.46% and 1,284 unitspending the new first quarter results.
Her stock Eurobank its share falls to -0.72% and 2.064 euros National Bank decreases to -0.67% and 8.046 euros, its share Alpha Bank is limited to -0.40% and 1.6375 euros, while its share Piraeus is unchanged at 3.86 euros.
The picture on the dashboard
In the high-cap index (-0.34% and 3,586 points), the share of Elektor climbs to +2.6% and 2.7 euros, with the shares of ELVALHALCOR and Quest to follow more than 1%. Her stock Titan, it gains 0.9% and approaches 32 euros. On the other hand, the shares of Autohellas, GEK TERNA, Sarantis and Motor Oil they lose at least 1%.
Regarding the mid-cap index (-0.07% and 2,390 points), the stock of Austriacard stands out negatively at -1.1% and 6.2 euros, while its share also shows losses of more than 1% Technical Olympian. On the other hand, its stock Lavipharm expands to +1.2% and 0.8 euros. demand and EYATH they follow at +0.7%.
Overall on the stock market, 30 stocks are moving higher, 43 stocks are declining, while 14 stocks are unchanged. THE capitalization of the market ranges at 101.9 billion euros.
On the Stock Exchange Board: The stuck OTE and the “last exit” of Epsilon
Next “stop” the 1,500 units
In a state of…waiting for it to complete climb to the top of 1,500 unitsfor the first time since April 13, 2011, is the Athens Stock Exchange, which is not excluded to break the critical resistances in the next sessions.
The General Index, moreover, is within breathing distance of its next milestone ongoing upward trend, which first started at the beginning of last October, when it was at the “bottom” of 1,111 units. Since then, the Greek market has been “running” one uninterrupted rally of 35%.
Only in 2024, in fact, the main stock market index registers one change of more than +14%with the total capitalization exceeding 102 billion euros -for the first time since way back in 2009.
The prolonged “hot” climate abroadundoubtedly, guarantees the protection of the Greek market from possible external challenges, while the successive corporate deals and the strong ones fundamentals they come to be the required “fuel” for the climb towards 1,500 units.
This week, in fact, a number of large-cap listed companies are set to publish their Q1 2024 financial results, with OTE (14/5), Helleniq Energy (16/5), Alpha Bank (16/5) and Eurobank (16/5) to stand out from the calendar.
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At the same time, the domestic market is counting down to the next big business deal, which, barring a shocking prospect, will involve the sale of the majority stake in Terna Energy to a fund from the United Arab Emirates.
In the meantime, the standard restructuring of its indices is scheduled for tomorrow MSCIwhere the Standard Greece includes 10 shares. If some scenarios for possible additions were released in the previous days, it is estimated that the conditions for enriching the composition of the index are currently not met. On the other hand, it is quite possible that there will be modifications in the weighting, which is expected to shoot up the daily turnover.
Assimilation abroad
Abroad, now, investors are waiting for the data on him April inflation in the US, which are considered critical for the course of US interest rates. The situation is somewhat clearer in Europe, where the ECBbarring a shocking contingency, will proceed with an immediate interest rate cut at the June meeting.
Within this framework, the pan-European Stoxx 600 rushes to digest the all-time highs of 521 units, while on the other side of the Atlantic, its furures Dow Jones are showing a firming start to the week, after a streak of eight consecutive higher closes.
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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)