Potential “brake” following a five-day fall “pressed” today (4/10) the Athens Stock Exchangewith buyers convincingly taking back the reins.
THE improved climate abroadfollowing optimistic data on the US labor market, undoubtedly contributed to the investment psychology recoverywhich received repeated “hits” in October.
However, today’s return zero “erased” the week’s big losses (-2.1%)with geopolitical crisis in the Middle East constitute the great “thorn” not only of the Greek markets, but also of the international markets, which see limited visibility.
Specifically, in 5th session of the weekthe General Index marked notable Increase of 1.37% and closed in 1,437.88 units (close to the day’s high), gaining around 19.5 points since Thursday’s close (1,418.42 points).
THE arc of diurnal variations was set at 20 units (from 1,418.83 to 1,438.05 units), with the turnover vary in 162 million eurosof which the 16.6 million euros relating to pre-agreed packages.
In the frame now, the National received a strong boost and ended at +2.4%, trading lots worth 82 million euros. From then on, the Jumbo stood out by almost +4%, with Piraeus, Engine Oil, OPAP, OTE and Alpha follow more than +1.5%.
Negative start in October
Perhaps the Athens Stock Exchange placed “brake” on the series of five consecutive negative sessionsn, provoking a strong reaction, but was unable to removes the atmosphere of uncertainty and nervousness which has prevailed since the beginning of October.
The General Index, having retreated below 1,450 unitsmeasures a cumulative drop of 2.1% in the weekreturning to the narrow range of 1,400 – 1,450 unitswhich tormented the Greek market for a long time.
It is clear that the positive image of September has now been reversed, with the exchange of “bumps” between Israel – Iran – Lebanon having “damaged” the psychology of investment, having visibly “shortened” the investment’s visibility and having removed investors’ confidence.
Now, few are in a hurry to take unnecessary risks in such a volatile stock market environment. And this is eloquently reflected in the picture of Athens, which is traditionally “susceptible” to such risks.
On the other hand, however, the first half financial results come and confirm it attractiveness of many listed companieswho still trade with discounthaving significant room for improvement based on evaluation indices.
Profits in Europe, Wall
Today, however, investors’ attention focused on US labor market data, as the early afternoon release of the new vacancies for the month of Septemberwhich reached 254,000 against estimates of 150,000.
This evolution, without a doubt, sent a positive signal to the stock market, further distancing the scenario of “abnormal landing” about the American economy and confirming this resilience of GDP due to the high cost of loans.
Following the above, the Dow Jones Index expands by at least 200 units, with S&P 500 register a slight increase of 0.50%. In Europe, at the same time, Stoxx 600 strengthens to +0.5% and 519 units, while the German DAX increases to +0.63%.
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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)