June…correction proved to be this year for many of its listed companies High and Medium Capitalization at the Athens Stock Exchangewhich was fundamental to -1.8% of the General Index in the last 30 daysPartially “ruining” the satisfactory performance of the first semester (+8.6%).
Pressures on refineries
The government’s surprise decision to reinstate the windfall tax on refinery profits has understandably put significant pressure on shares of Engine oil and Helleniq Energy. In fact, the former, which in the previous days also cut its dividend – a record for 2024, doubled 16% in June, losing all of this year’s profits and falling to 7-month lows (23.3 euros). Likewise, Helleniq Energy’s share price fell to levels unknown since February (7.8 euros), having lost 8% of its value in the previous 30 days, falling below 8 euros.
Stock Exchange – Construction: The 5+2 listed with profitability of up to +25% in 2024
Bank losses
From then on, the focus of pressure was also placed on banking shares, which paid the price for rumors of extraordinary taxation of the sector, but also for new pressure from the Ministry of Finance on the issue of rates.
The actions of Alpha Bank and Piraeus, which during the month fell 9%, moving significantly away from the year’s highs. Fortunately for the former, the Moody’s upgrade intervened, which contributed to the immediate recovery of 1.5 euros.
At the same time, Viohalco was reduced by 8% in June, “cutting” this year’s profits to single-digit levels (<10%). With -8% he said goodbye to the month and AEDAP.
The pleasant surprises
On the other hand, the dikes over the sellers’ domain were built by their stocks Cenergia It is Tender Energy. The first rose 13% in the last 30 days, reaching consecutive highs and reaching 10 euros in the blink of an eye (intra-session maximum of 9.8 euros on 27/06).
TENERG, in turn, thanks to the agreement of the main shareholder (GEK TERNA) for the sale of the majority stake to the Arabs of Masdar, appreciated by more than 6.5% and approached 20 euros, which is also the agreed sale price of the shares.
The image in the middle
In terms of mid-cap, Intracommunication, AVAX It is Profile suffered the greatest pressure, losing 16%, 13% and 12%, respectively, in June. Its shares continued with double-digit losses Lavipharm, Olympiaki Technician.
On the contrary, the shares of Intralote, PPA It is Optima Bank, which managed to close the month with a positive sign, rising 3.7%, 3.3% and 2.4%, respectively.
Stocks that came under the most pressure in June
• Engine Oil -16%
• Intracom -16%
• AVAX -13%
• Profile -12%
• Olympic Coach -11%
• Lavifarm -10%
• Alfa Bank -9%
• Piraeus -9%
• Helleniq Energy -8%
• EYDAP -8%
• Viohalco -8%
Stock Exchange – Energy: 21 billion euros the value of the 6+3 listed companies in the sector
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)