Close of milestone of 1,400 units disembarked today (26/6) the Athens Stock Exchangewith sellers dominating 3rd consecutive session, bringing critical supports back to the forefront.
The General Index’s inability to react to 1,460 points is proving to be detrimental, while the Greek market appears to have runs out of fuelsomething that makes it extremely vulnerable to the prolonged nervousness that prevails abroad in the face of French elections.
At the same time, successive dividend cuts (13 listed in the last two days) intensified the wave of liquidations, in which the 1,400 units became decisive for the medium-term trend.
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More specifically, during today’s meeting, Mr. General index marked notable drop of 0.97% and trained in 1,406.24 unitslosing almost 14 points at Tuesday’s close (1,420.06 points).
O arc of diurnal variations was set at 20 units (from 1,399.55 to 1,419.75 units), with the volume of business vary in 144 million eurosof which 14.8 million euros related to pre-agreed packages.
Stock Exchange – Energy: 21 billion euros the value of the 6+3 listed companies in the sector
Fuels… end of the Stock Exchange
In a narrow lane fluctuations between 1,400 – 1,460 units the Athens Stock Exchange is still in operation, while only a few remain two meetings until the end of Junebut also from the first semester.
With the mega-deal for hersale of Terna Energy has already been announced MSCI not show favoritism to Greece by keeping AA in the Emerging marketsthe Greek capital market appears to have… run out of fuel.
That makes her again vulnerable in international nervousness/volatility, as all attention is focused on early French parliamentary elections and the risk of government instability in Europe’s second economy.
At the same time, successive dividend cuts they come – by tradition – to intensify sell orders on the board. Remember that yesterday a total of 10 listed companies “cut” their right to this year’s prize, while today it was the turn of Metlen (1.5 euros/share), Motor oil (1.4 euros/share) and Fourlis (0.12 euros/share).
Investors are also interested in banking sectorwho is now absent 10% of recent highs, with Alpha Bank and Piraeus receiving the most intense pressure. This makes the first at its lowest level since November and the second at its lowest level since January.
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The recent statement by the Minister of Economy, Kostis Hatzidakis, about the possible intervention of the State in the issue of fees, is intensifying concern in the sector, negatively affecting the climate.
In this context, the General Index, although it currently defends the area of 1,400 units, has double by almost 6.5% about multi-year maximums of 1,502 units (closing on 20/05). Of course, this does not negate its significant increase first semesterwhich is around +9%.
From a technical point of view, the 1,400 units they are still the mainstay of the General Index, which at the same time sees the first resistances at 1,460 points. O average index of the last 200 daysFinally, it is placed at 1,339 units.
Shot falling in Europe, Wall
Abroad, now, the pan-European market Stoxx 600 loses all morning gains, falling to -0.60% and 514 points, while investment nervousness continues to be dominant taking into account the French elections (on June 30th the first round).
Across the Atlantic, where traders turn their eyes to inflation numbers Friday (prices for personal expenses), the Dow Jones Index starts the session with losses of almost 150 points, with S&P 500 remaining almost unchanged at 5,460 units.
On the Stock Exchange Panel: Cenergy’s unstoppable recovery and the margin to +65% at Aegean
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)