2024-09-12 22:53:30
The Athens Stock Exchange puts a “brake” on the 4-day falling streak today (12/9), with buyers returning to the reins and bringing the General Index back to 1,420 units.
The positive climate abroadas a result of the expectation of a new interest rate cut by the ECB (decisions at noon), contributes decisively to the improvement of investor psychology, in combination with the satisfactory company figures of the first semester.
On the other hand, however, caution and the nervousness are still reporting present, with September developing within a narrow range between 1,400 and 1,450 units, which keeps the highs of 1,502 units.
Specifically, at the 4th meeting of the week, Mr General Index he notes softly up 0.57% and is formed on 1,421.86 unitsgaining about 8.5 points from Wednesday’s close (1,413.54 points).
The arc of diurnal variations spans seven units (from 1,418.81 to 1,425.17 units), with the transaction turnover to range at 5 million euros in the first 20 minutes.
On the board, now, the Methylene increases by 1.5% and approaches 34 euros again, with the shares of Piraeus – Alpha – Eurobank to increase by at least 1%. Motor Oil, OPAP and Helleniq Energy earn up to 1.7%.
Banks are on the rise
The banking index, leaving behind the liquidations of the previous four days, recovers to +0.90% and 1,230 unitswaiting for the decisions on the last placement of the HFSF.
Her stock Alpha expands to +1.50% and 1.523 euros, its share Eurobank its share follows at +1.22% and 1.984 euros Piraeus trades at +1.11% and 3,911 euros, while its share National increases to +0.37% and 7.504 euros.
The picture on the dashboard
In the high-cap index (+0.92% and 3,456 points), its share Methylene it is trying to approach 34 euros again, as it gains 1.5%. At the same time, its share is climbing by 3% ELVALHALCORwhich is getting a boost from strong half-year figures. OPAP, EYDAP, Ellaktor and Viohalco are strengthened by 1% to 2%, while the shares of Jumbo, Sarantis, PPC, AIA, Motor Oil and OTE they follow up to +0.9%. On the contrary, its share Aegean declines by 1.2% and falls below 11 euros, due to the decline in profitability from the grounding of part of the fleet.
Regarding the mid-cap index (+0.40% and 2,296 points), the stock of Intracom Holdings stands out at +2.1% and 3.11 euros, partially recovering from yesterday’s -3%. Intralot, Lavipharm, Profile, ΑΒΑΞ, Ideal and Fourlis are boosted by +1% to +2%. Special mention should be made to Attica Bankwhich is sliding by 16%, after the listing of 5.5 million shares resulting from the merger with Pancreatia.
Overall on the stock market, 64 stocks are moving higher, 11 stocks are declining, while eight stocks are unchanged. OR capitalization of the market ranges at 98.2 billion euros.
Papazilakis: Akritas with a stable… gold
Stop the losses
The Athens Stock Exchange is “looking” for the upward reaction today, in order to put “brake” on the 4-day falling streakwhich brought the General Index up to 1,413 units.
Sure, the positive climate prevailing abroad from early morning is an optimistic omen for the Greek market, which is preparing to start the fourth session of the week on the right foot.
All eyes are on her central bank of the Eurozone, as Christine Lagarde is very likely to announce another 25 basis point cut in European interest rates – the second since June.
This development will undoubtedly increase risk appetite as the cost of money will be further reduced, while not forgetting that a third rate cut until the end of the year.
The “scissors” in its interest rates should also be considered a given Federal Reserve next week, despite yesterday’s inflation data curbing bets for a 50 basis point intervention.
At the same time, internal news coverage is monopolized by corporate results, with Lamda Development and Elektor to follow up on the financial announcements of the first semester.
So far, the performance of the listed companies can be characterized as more than satisfactory, with profitability to record an increase of at least +15% compared to last year’s first half.
On the other hand, however, the wait for the placement at National Bankthe fear of a possible recession in the US and the negative reputation of September – a traditionally bearish month – largely maintain the uncertainty and her caution in stock markets.
All this is also reflected in the Greek dashboard, with the General Index fluctuating in recent weeks within a narrow range of fluctuations, which has as “ceiling” the 1,450 units and as basic support the 1,400 units.
It remains to be seen, now, who catalyst it will manage to break this range, either to the downside or to the upside.
Profits in Europe
Abroad, now, pending the ECB’s decision on interest rates, the pan-European STOXX 600 gains strongly to +1.1% and 513 points, with indexes in Frankfurt, London, Paris and Milan gaining at least 1%.
On the other side of the Atlantic, its futures Wall Street are set for a positive start to the session, with the Dow Jones and S&P 500 expanding by as much as 0.3% as investors await new macroeconomic data.
On the Stock Exchange Board: The -8% of Ethniki, the contradiction in the AIA and the test of Intracom
(The above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)