Today (2/9) the Athens Stock Exchangewith investors holding the reins for the 3rd consecutive session.
Despite holiday on wall street and the leadership of sellers in Europe, the Greek market managed become independent and overcome them 1,440 units resistorsfinding support in selected stocks. Of course, the upward reaction was not accompanied by convincing turnoverthat remained in low levels.
This however cannot be ruled out to change in the coming days/weeks as there is much more to come. “dense” developments in September (DBRS & Moody’s, interest rate cuts, company size, etc.), which can significantly increase the daily investment activity.
More specifically, at the first meeting of the month, Mr. General Index classified as satisfactory Increase of 1.05% and graduated in maximums of the day of 1,446 unitsgaining about 15 points on Friday’s close (1,431.19 points).
THE diurnal variation arc was set at 14 units (from 1,432.04 to 1,446.21 units), with the turnoverhowever, without exceeding the 81 million eurosof which 8.2 million euros related to pre-agreed packages.
On the board now, the actions of OPAP and OTE stood out by up to +3.2%, recovering 16 and 15 euros, respectively. Profits of 2.8% were also shown by Piraeus Streetwhich returned to 4 euros (higher than 1/8), while Alpha, PPC, Metlen and National followed by at least +1%.
Banks are on the rise
The banking index, despite a torpid start, ended at +1.37% and 1,282 unitspending decisions on the final round of divestment of the HFSF, but also the imminent introduction of the Bank of Cyprus.
Your stock Piraeus its share increased to +2.87% and 4.02 euros Alpha followed with +1.91% and 1,576 euros, its share National traded at +1.53% and 7,978 euros, while its share Eurobank remained unchanged at 2,064 euros.
The image on the panel
In the high-cap index (+1.34% and 3,520 points), its share OPAP expanded +3.2% and recovered to 16 euros, ahead of the publication of corporate figures tomorrow. Its share also increased by 2.8% OTEwhich returned to 15 euros. ELVALHALCOR, PPC, Titan Cement, Metlen, Lamda and Jumbo gained at least +1%, while Sarantis jumped to +3% and 10.2 euros, pending today’s financial results. Its stock Aegeanstarted at +2.2% and returned to 11 euros. On the contrary, its share Autohellas doubled to -2.2% and 11.2 euros. Finally, its closing was stabilizing engine oil, which achieved a turnover of 16.5 million euros, following the rebalancing in the MSCI.
In relation to the mid-cap index (-0.34% and 2,312 points), the stock of Intracat stood out negatively by -2.5% and 5.02 euros, with the shares of Fourlis, ADMIE, Intralot and Optima Bank follow around -1%. On the other hand, its stock Profile expanded dynamically to +3.6% and 4.74 euros. Austriacard and Demand were reinforced by at least 2%, while their share HE HAS increased to +1% and 4.56 euros.
Overall in the stock market, 62 stocks advanced, 33 stocks declined, while 21 stocks remained unchanged. OR capitalization of the market varied in 100.1 billion euros.
The highest turnover
- Motor Oil -0.18% 16.5 million euros
- Piraeus +2.87% 15.3 million euros
- Eurobanco 0.00% 11.5 million euros
- National +1.53% 9.6 million euros
- OPAP +3.26% 4.0 million euros
The biggest rise
- Kecrops +9.29% 38,647 euros
- Leventeris +6.67% 33 euros
- SIDMA +5.00% 2,973 euros
- Profile +3.60% 112,545 euros
- OPAP +3.26% 4.0 million euros
The steepest curve
- BIOCARPET -3.66% 7,352 euros
- Intercontinental -3.33% 2,368 euros
- Frigoglass -2.75% 3,619 euros
- Intrakat -2.52% 735,589 euros
- Papoutsanis -2.45% 15,323 euros
Stock Market: “Heavy” September usually brings… horror – What happened in the last 10 years
The “heavy” September
The Athens Stock Exchange is going through one of the most critical months of the year, which today marked… September. And this is because in the coming days/weeks there will be many “heavy” developments, which will largely determine the short and medium term trend.
September’s reputation may not be the best possible – from 2020 to 2023 the 9th month of the year is (almost permanently) in decline – but there are reasonable expectations that the commercial activity and the daily turnover will begin to increase again, leaving behind the depressed days of the second 15 days of August.
The first bet, of course, is to constantly exceed the minimum target. 100 million euros/day. “The image of inactivity is not sustainable and could be reversed with the return of investors “to the tables” in September. In any case, convincing investment initiatives, “fresh money” and… news will be needed to “get the cart off the ground”, points out the Petros Steriotiscertified technical analyst.
The news about Avenida Atenas will start to get more and more interesting in the coming days. In addition to interest rate reductions and of corporate resultswhich continue to confirm this year’s positive profitability trends, attention is focused on the verdicts of the rating agencies.
Vakakis: The big loser (?) of the summer – The loss of one billion euros in less than four months
And can your report DBRS the caution that Friday is not a particularly critical catalyst (given that the Canadian house has already awarded Greece the coveted investment grade), but the same does not apply to the Moody’s report, which is the only one of the “big” and recognized houses that still classifies Greek bonds as non-investment grade.
The Athens Stock Exchange expects this to change on 13 September, the day the rate agency publishes its last report of the year on Greece, which is currently one “step” below investment grade. The importance of this assessment is enormous, as the honourable Member said. Moody’s is arguably the house with the greatest emphasis on passive funds. Therefore, a potential improvement is expected to bring large inflows into government bonds, providing a significant psychological boost to Athens Avenue.
In addition to developments surrounding the country’s credit rating, decisions are also currently being made regarding outstanding debts. Nationalwith the main issue being the fate of 18.39% of the FHEF. The disposal rate, the sale price and the timing are three factors that are expected to “close” immediately, paving the way for the conclusion of the sovereign divestment cycle in the banking sector.
The processes advance at a fast pace Attica Bankwhich awaits the merger with Pankritia on the one hand and the pre-decided AMK on the other, without forgetting the scheduled return of Cyprus Street in Athens, which will add a value of 2 billion euros.
Marginal losses in Europe
Abroad, now, with Wall Street will be closed due to the Labor Day holiday, attention turns to Europe, where the main index Stoxx 600 falls to -0.16% and 524 points, retreating from recent highs.
On the Stock Exchange Table: Alpha Bank’s lockdown and ADMIE’s landmark step
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)