Without any substantial changes, today’s meeting continues at Athens Stock Exchangewith investors to absorb September’s unexpected profits (+2.6%) – traditionally negative month.
Investors’ attention is obviously focused on the current situation placement of the National Bankwhere the FEFG grants 10% at a price of 7.30 to 7.95 euros. The interest is extremely “live” (cover 6 times), with the success of the sale is considered a discount.
During the day, at the same time, the deadline for publishing corporate results of the first half of the year, with listed companies recording an average increase in profitability of 15%, confirming expectations for this year’s financial numbers.
Specifically, at the end of September, the General Index marginal brands 0.05% increase and is formed in 1,469.45 unitsgaining less than a point since Friday’s close (1,468.70 points).
THE arc of diurnal variations extends over six units (from 1,463.30 to 1,469.49 units), with the turnover vary in 46 million eurosof which the 5.9 million euros relate to pre-agreed packages.
On the board now, her stock National it tries to “capture” the maximum price of the ongoing placement (7.95 euros), earning more than 1%. On the other hand, Piraeus still suffers from the resistance of 4 euros. OTE, Jumbo and PPC fell by up to 0.5%.
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Waiting for the national team
The Athens Stock Exchange proved last week that it has… pulse and now wants to maintain that pulse at current normal levels, on the one hand guaranteeing the acquisition of 1,450 unitson the other hand, moving even closer to the 13-year high of 1,502 units.
But it is necessary to do so when the market begins to be flooded with an “inflated” supply of shares, which requires the activation of new “players”. Otherwise, existing investors will be asked to recycle already available liquidity, which is not particularly positive for AX.
Having turned the trend – both in the long and short term – towards a “green” terrain, Avenida Atenas now turns to the critical aspect placement of the National Bank, who will be the “protagonist” of the new week. The offering of 10% to 12% of shares by FEFG will clearly affect the course of the General Index, as a part of the funds will “fall” to NBG.
With what this implies for the performance of the rest of the market, which is forced to wait for the conclusion of the megatransaction to reevaluate the situation.
The most important thing, however, is to maintain the current high levels of daily turnover, which has returned convincingly more than 100 million eurosa clear indication of climate improvement.
In this context, the new week begins with the first support being 1,450 units and so on. basic support for 1,400 unitswhich are almost identical to the average of the last 200 days. On the other hand, the next resistance of the General Index is in the 1,480 point zone, before the market faces this year’s highs of 1,502 points.
In any case, we note that the 2024 average incomeafter the +3% of the previous five days, it now touches the +13.6%with mSeptember change set at +2.6%.
Certainly, AA’s banking centrality has been updated in recent days and beyond placement in the National Bank, investors witness, on the one hand, the ongoing transformation of the Bank of Attica, on the other, the return of the Bank of Cyprus to Athens, which offers an additional capitalization of more than 2 billion euros.
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All these events “raised” the value of listed banks to more than 27 billion euros, or to at least 25% of the total value of the national capital market.
In addition to banks, investors, in the coming weeks, will be invited to turn their attention to other corporate events, which will maintain this trend. high share offering, which was mentioned at the beginning of the text.
The example of AMK in Cenergiathe final decisions of which should be taken at the Extraordinary General Assembly next Wednesday, October 2nd. At the same time, after placing in Cree – Cree for the 3.03% of the share capital, the market is also awaiting the movements of the remaining listed companies, which have announced or insinuated that they will sell shares, such as Commercial Propertiesh Tractor and possibly the Hellenic Energy.
At the same time, today the period for disclosing corporate results for the first half of the year ends, with the 25 listed companies in High Capitalization having already… released their obligation, confirming the initial expectation of moving forward increased profitability from 2024.
After all, in the first semester the performance of the “big” Stock Exchange is improved by a double-digit percentage in relation to the corresponding period of 2023. And this, of course, whets the appetite for greater dividend distributions.
But, beyond the blue chips, financial figures for the first half of the year show that the stock market is full of several small and lesser-known companies, with sustainable cash flows, a history of growth and positive prospects. Something, in fact, that is combined with attractive valuations.
Losses in Europe
Abroad, now, after last week’s impressive records, investors are rushing to absorb the gains, with an eye on the geopolitical developments in the Middle East, where the situation is out of control.
The pan-European Stoxx 600 falls to -0.87% and 523 points, with the German DAX lose at least 0.5%. On the other side of the Atlantic, your future Wall Street record marginal variations, remaining at record levels.
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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 share)
