Almost everything he gained yesterday he lost today (2/7). Athens Stock Exchangewith sellers take back the “reins” and drive the market back towards them supports of 1,400 units.
O pressures on banks did not allow it to be followed up Monday’s bullish reactionas uncertainty in view of the second round French elections affect negatively.
And all this, while inside the attention gradually turns to second quarter financial figuresbut also the new dividend cutswhich will line the pockets of shareholders.
In this context, the General index marked remarkable drop of 0.97% and graduated in 1,407.03 unitslosing about 14 points compared to Monday’s close (1,420.83 points).
O diurnal variation arc was set at 11 units (from 1,407.03 to 1,418.86 units), with the volume of business for a change only in 72 million eurosof which 3.3 million euros related to pre-agreed packages.
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The sellers are back
The “battle” for her defense of 1,400 units the Athens Stock Exchange continues, with the General Index remaining within striking distance of critical psychological supports, the loss of which opens the way for road to 1,380 – 1,360 units.
If yesterday the market took a deep breath, today there was no corresponding continuation, with the folding from the vertices of 1,502 units fluctuated at -6%, which “cut” the overall 2024 increase to single-digit levels (below +10%).
Of course, the political situation in Franceafter the rise of Marine Le Pen’s far-right party, it remains a source variability It is uncertainty. And analysts can “bet” that the scenario of forming an independent government by the National Coalition will hardly come to fruition, but everything will be decided in the second round next Sunday (7/7).
Therefore, investment visibility remains low, with nervousness dominate the remaining meetings of the week – until there is a clearer picture of the political developments in Europe’s second largest economy.
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And all this, while on Thursday the UK parliamentary electionswhere the Labour Party is one step away from returning to power.
On the domestic front, little has changed now, with the environment continuing to be favourable for the Athens Stock Exchange as we await the next round. dividend cutwith emphasis on bank distributions.
From then on, with the end of the first semester, the first announcements from listed companies about the second quarter 2024 financial results.
Europe Drops, Wall Stable
As far as Europe is concerned, the Stoxx 600 falls to -0.6% and 509 points, as investors appear disappointed with the maintenance structural inflation also at high levels (2.9%) in June, despite the general price index falling to 2.5%
On the other side of the Atlantic, American indices show subtle changes as a result Dow Jones Index maintain more than 39,000 units and the S&P 500 be close to the 5,500 unit milestone.
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(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)