It is moving cautiously higher today Athens Stock Exchangeas beautification movements (showcase) dominate, since we are going through the last meeting of July but also 7 months.
At the same time, at the center of interest are the first half financial figures, with Piraeus and Titan announcing excellent results. After the session closes, Eurobank will follow.
And all this, while abroad the attention is focused on Federal Reservefrom which investors await a signal to confirm the forecast of its launch monetary easing since September.
In this context, the General index small notes up to 0.40% and is graduated in 1,466.35 unitsgaining about six points on Tuesday’s close (1,460.46 points).
O diurnal variation arc extends over three units (from 1,463.58 to 1,466.50 units), with the volume of business oscillating at 3.5 million euros in the first 15 minutes.
In the picture now, the Piraeus receives a boost from the first half of the year figures, which is why it records a return of over 3.8 euros. Furthermore, it is moving towards new 4-year highs Cokewhich is around 34 euros. From now on, AEDAP It is Autohellas are around +1.5%.
+4% in July
In last meeting of July and the 7th month, today marks the start of the Athens Stock Exchange, which is counting down to the arrival of the -traditionally slow- August.
Of course, the 8th month of the year is expected to receive as a dowry +4% in July It is +13% from 7 monthswith the Greek market maintaining its results despite volatility and international challenges.
And it may be that investment interest is reduced these days, since several traders are already on the… beach, but in terms of news, the current week is quite rich.
Today, for example, Piraeus Bank and Eurobank announce the financial figures for the first half of the year, with the performance raising expectations of a further improvement in the guidance for the whole of 2024.
In addition to these two, its administration also releases results Titan Cementwhich sees the stock firmly at historically high levels, surpassing the 32 euro mark.
At the same time, today its shares debut on the Main Market of the Stock Exchange Performance technologies, which, after 16 years of presence in the Alternative Market, is invited to play… ball with the big “players”.
At the same time, let’s not forget her agreement Bitros for the restructuring of the loans of the two subsidiaries, which, based on management information, will lead to the return of positive equity.
Technically, the General Index is still stuck in a narrow band of fluctuations, having 1,438 units as basic support and 1,487 units as first resistance.
This, however, does not make the scenario of gradual reapproach of this year’s peaks, which are in the 1,500 units -especially if the news of the week is favorable.
On the other hand, satisfactory performance over the last 7 months gives managers room to maneuver to liquidate a portion of the profits, as is the case for banks, which have been falling for six consecutive sessions. However, they can still gain 20% by 2024.
Europe on the rise
Abroad, now, the eye is turned Federal Reserve, which tonight announces the results of the two-day meeting of the monetary committee. Even if interest rates do not change, everyone is waiting for a signal from him Jerome Powellin order to confirm the assessment that the first step towards easing restrictive monetary policy will actually be taken in September.
In JapanAt the same time, Asian markets are rapidly appreciating their historic move central bankwhich raised its key interest rate to the 0.25% range for the first time since October 2008, while reducing its monthly government bond-buying programme.
As for her Europeattention turns to the July inflation data, which will largely determine the ECB’s next steps. Don’t forget that the Cristina Lagarde has already carried out a first rate cut of 25 basis points.
In this context, the pan-European programme Stoxx 600 strengthens dynamically to +0.9% and 518 units, with the French CAC 40 and the British FTSE 100 gain at least 1%. Across the Atlantic, Wall Street is set for a positive start to the session as its futures contract. Dow Jones Index it’s him S&P 500 increase up to 0.8%.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)