2024-08-27 16:44:33
The Athens Stock Exchange continues to accumulate strength, with investors indulging in selective positions around the resistances of 1,440 units.
It is clear that while the international environment remains cautious due to the developments in the Middle East, the Greek market will find it difficult to manifest a convincing upward movementwhich will change her psychology.
On the other hand, however, Athens still maintains -even if marginally- positive momentumwhich has brought back the total average return of 2024 at levels above +11%, dropping to -4% the distance from this year’s highs (1,502 units).
More specifically, in the second meeting of the week, Mr General Index notes small up 0.28% and is formed on 1,441.75 unitsgaining four points from Monday’s close (1,437.68 points).
The arc of diurnal variations extends over four units (from 1,437.99 to 1,441.93 units), with the transaction turnover to fluctuate only at 2.5 million euros in the first 15 minutes.
On the board, now, its index-weighted stock Coca-Cola increases by more than 32 euros, giving a boost to the rest of the market as well, where the Intralot continues to climb towards 1.2 euros. On the other hand, they are moving in negative territory OPAP – PPC.
Banks stand still
The banking index continues the image of stagnation of the last few days, as a result of which it is at +0.03% and 1,284 units.
Her stock Piraeus increases to +0.28% and 3.963 euros, its share Eurobank its share follows at +0.19% and 2.089 euros Alpha is unchanged at 1.59 euros, while its share National retreats to -0.15% and 8.002 euros.
The picture on the dashboard
In the high-cap index (+0.15% and 3,509 points), its share Coca-Cola expands by +1.4% and returns to 32 euros. Sarantis and Elektor follow at +1%, while the shares of ELVALHALCOR, GEK TERNA, Viohalco and Jumbo are enhanced by at least 1%. On the contrary, OPAP and PPC they lose from 0.3%. In marginally negative territory is also Cenergywhich in the afternoon publishes the figures for the first semester.
Regarding the mid-cap index (-0.06% and 2,290 points), the stock of Intralot stands out positively at +1% and 1.2 euros, continuing the course of convergence with the 6-year highs (1.27 euros). Her stock Dimandat the same time, expands to +1.1% and 9.80 euros. Conversely, the shares of Intranets and Optima retreat by at least 0.6%.
Overall on the stock market, 52 stocks are moving higher, 21 stocks are declining, while six stocks are unchanged. OR capitalization of the market ranges at 99.9 billion euros.
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Awaiting return of investors
The return of the investors is eagerly awaited by the Athens Stock Exchange, which continues to gather strength and present negative trading turnovers, worth below 100 million euros per day.
Thus, for a few sessions now, the General Index is locked in a narrow range of fluctuations, which is based on 1,430 – 1,440 units, without attempting to break the critical resistors of 1,478 units.
The climate of stagnation, as can be seen in the first minutes of the meeting, continues today, although the selective placements in specific stocks, which offer… news, help to push past 1,440 points.
Do not forget that within the day we are waiting for its financial results Cenergywhile tomorrow its six-monthly figures will follow Motor Oil and on her Thursday Helleniq Energy.
And all this, while on Friday the week ends with restructuring of the MSCI indices and the transfer of Motor Oil from the main Standard Greece index to the Small Cap index.
On the other hand, however, geopolitical tension in the Middle East it seems to act as a thorn in the psychology of traders, despite the earlier euphoria from the clear signal of a reduction in US interest rates by the Federal Reserve.
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While they last 3+1 meetings for the end of the summerthe General Index is down about 2.7% from August levels, although it has recouped losses from the August 5 plunge (-6.2%)
However, despite the looming negative 8th month of the year, since the beginning of 2024 the performance of the main stock index remains in double digits, as it currently stands at +11,1%.
A milestone for the Greek market is also the return of the total capitalization of the Stock Exchange over 100 billion euros. Today, before the start of trading, it was estimated at 99.6 billion euros.
The image abroad
Abroad, now, with her tension in the Middle East to weigh on investor sentiment, buyers are engaging in selective placing, driving stocks slightly higher.
The pan-European STOXX 600 marginally strengthened to +0.25% and 519 units, with FTSE 100 in London to be at +0.5%. On the other side of the Atlantic, her pre-contracts Wall Street are almost unchanged.
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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)