He can Athens Stock Exchange finish at the highest level of the day, but the comparison with the jump in foreign markets was… relentless.
And that’s because, after last night’s attack reduction in US interest rates by 50 basis points, the Stoxx 600 strengthens today by at least +1.2% and the Dow Jones Index jumps nearly 500 points, setting the stage for new all-time highs.
The Athens board, on the contrary, which only managed to find a rudimentary rhythm towards the end of the day, certainly does not leave investors satisfiedwith the market remaining locked in the range of 1,400 – 1,450 units for the 27th consecutive session.
Specifically, on the 4th day of the week, Mr. General Index he noticed softly an increase of only 0.63% and graduated in 1,428.39 unitsgaining about nine points on Wednesday’s close (1,419.50 points).
THE diurnal variation arc was fixed at 12 units (from 1,416.78 to 1,428.42 units), with the turnover vary in 122 million euros, of which 16.8 million euros related to pre-agreed packages.
Sispas: Portfolios for the new… diploma and the unnecessary (?) stock split
The Stock Exchange held… an umbrella
With one step observed continued today the Athens Stock Exchange, as the fertile climate abroad was not able to “raise” the General Index, which I missed another chance to approach this year’s high of 1,502 units.
OR last night’s Federal Reserve decisionthat is, the US Federal Reserve Bank, proceeding with an aggressive reduction – the first since the pandemic – of interest rates by 50 basis points was the “X” factor of the meeting.
This is because investors believe that the Fed, following this measure, is preparing for the “soft landing” scenariowanting to avoid an abnormal recession in the US economy, which would result in a contraction of GDP.
In fact, let’s not forget that analysts are no longer ruling out another 50 basis point intervention on US interest rates by the end of the year, which would bring the cumulative rate reduction to 100 basis points.
All this, reasonably, improve the mood in international stock marketswhich, however, did not seem to particularly move Athensthat for several weeks (27 consecutive meetings) cruises between 1,400 and 1,450 unitsunable to escape this narrow range of variation.
Of course we must not forget that the next placement at the National Bank still remains volatile, given that several foreign funds are liquidating several positions in order to obtain the necessary liquidity and participate in the process of selling part of the 18.3% currently controlled by the FEFG.
From today’s agenda, however, the investor should keep in mind that the Viohalco publishes immediately (after the meeting closes) the financial data for the first half of the year, as well as the ADMIE is still in focus amid developments on the Crete – Cyprus cable.
Tomorrow we also have FTSE Russell index rebalancingwith Cenergy being added to Large Cap and Viohalco being “downgraded” to Mid Cap, which Intralot is also entering.
A record on Wall Street
With the Fed in the air, after aggressively cutting interest rates by 50 basis points, international markets are with… comfort in the greenwhile improving risk appetite.
Thus, the pan-European context Stoxx 600 strengthens dynamically to +1.27% and 521 units, with CAC 40 in Paris increase by at least 2%. The index is at +1.5% DAX in Frankfurt.
Across the Atlantic, Dow Jones Index jumps almost 500 points, rising to a new all-time high (42,011 points). The indexes also show gains of 1.5% and 2.1% S&P 500 and Nasdaqrespectively.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)