Stable positive ground continues in the first meeting of July Athens Stock Exchangewith buyers to control the reins and lead the General Index out of danger zone of 1,400 units.
O euphoria prevailing in Europeundoubtedly contributes to the upward trend of the Greek market, which is evidently still approximately 6.5% compared to this year’s highs of 1,502 units.
Yesterday’s result French ballot boxes appears to be partly a relief for analysts, as the worst was avoidedDespite extreme right leadership remains clear in your opinion second round next Sunday.
In this context, in Athens, the General index he notes softly up to 0.76% and is graduated in 1,414.96 unitsgaining about 11 points at Friday’s close (1,404.26 points).
O diurnal variation arc covers seven units (from 1,409.56 to 1,416.84 units), with the volume of business vary in 43 million eurosof which 13 million euros relate to pre-agreed packages.
On the board now, Piraeus It is Alfa Bank are strongly strengthened by approximately 3%, with Eurobank – OTE – Helleniq Energy fall at least 1%. From there, the Metlen is trying to recover 35 euros, while a 4% jump is given by ELVALHALCOR.
Banks see profits of almost 2%
The banking index is put in the focus of buyers, rising to +1.81% and 1,235 unitsthus limiting the distance to the year’s highs to -8.5%.
Your stock Piraeus your share increases to +3.05% and 3.51 euros Alfa Bank expands to +3.05% and 1.57 euros, its share Eurobank trades at +1.29% and 2,047 euros, while its share National increases to +0.95% and 7,858 euros.
Stock Market: The Champion Stocks in the June Correction and the Counterweights
He wants to keep the 1,400 units
The Athens Stock Exchange finds itself at an extremely critical crossroads, which is called upon to defend the supports of 1,400 units, in an environment of low investment visibility and external uncertainty. It’s no coincidence that June “ran away” with me losses of more than 1.8%which made the entire second quarter negative (-1.2%) and “cut” first-half profits to +8.6%.
It is very likely that an eventual loss of 1,400 units will pave the way for 1,380 – 1,360 unitswhich are the last mountain before the average of the last 200 days, that is, 1,344 units. Strength at this level, while not currently under immediate threat, is considered absolutely necessary to maintain the long-term positive trend.
The most important challenge, of course, is related to political situation in Francewhich was also confirmed in the first round of yesterday’s legislative elections, where the far right Marina LePen gained an advantage ahead of the second round next Sunday (7/7). This condition undoubtedly deprives his agent predictability in the second economy of the Old Continent. With all that this implies for the markets.
On the other hand, as rightly stated in your last report NBG Bonds, the factors that recently led the General Index to highs of 1,502 points (close of the session on May 20) did not change substantially, remaining the same. Who are they; O political stabilitythe attractive valuations of listed companies, the resilient corporate dimensions, the optimism macroeconomic data and greater liquidity, which is further enriched by successive deals.
If the above catalysts have also been priced in by the market, then of course they still support it. positive narrative for the national capital market. Therefore, subject to the easing of concerns on the European political scene, it is possible that there will be a gradual rapprochement to recent highs, from which the current distance estimated at -6.5%.
However, until this happens, an excess of patience is necessary, as the clouds over the Old Continent need to dissipate and investors gain greater visibility to be convinced of the taking extra risks. Until then, nervousness and the prolonged variability will continue to be the main attraction on Avenida Atenas.
Paris and Europe on the rise
Abroad, the result of the French vote monopolizes interests, with investors making a first assessment with a view to the second round. The reaction, however, is cool, with him Stoxx 600 win 0.4 and reach 513 points. At the same time, the French CAC 40 rises 1.5%.
Across the Atlantic, US indices are gearing up for the second half of 2024, in which the presidential battle of the fall undoubtedly stands out. In this context, futures show an upward start in today’s session, while the S&P 500 struggling to surpass 5,500 units.
On the Stock Exchange: Fund No. 2 on Intracom and… punishment ABROAD
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)