Without continuity, there is a risk that the yesterday’s strong reaction on Stock Exchange of Athens because the buyers seem to be winning again nervousnesslost ground cannot be regained.
Somehow, the Greek market is holding up short distance from the supports of 1,400 unitsstanding approx 5.5% from this year’s peak of 1,502 units (closing 5/20).
At the same time, the flow of European stocks continues to cause concern, among the French CAC 40 to lose almost 7.5% last month, clearly affected by risk of political uncertainty.
More specifically, during today’s meeting, Mr General Index notes that go unnoticed + 0.08% increase and formed by 1,423.56 unitsgained just one point from Tuesday’s close (1,422.32 points).
the arc of diurnal variations more than eight units (from 1,420.37 to 1,428.71 units), with transaction turnover in the range of 41 million eurosof which 8.2 million euros concern the agreed packages.
On the board, now, the Motor Oil jumped 4%, thanks to the approval of the dividend (1.4 euros/share) but also to the favorable prospect for profit in 2024. From there, the Terna Energy returned to 19 euros (+ 1%), while the Alpha Bank and Mytileneos they lost from 1%.
The banks stopped
The bank index struggled to follow up on yesterday’s reaction, as it was a result of -0.04% and 1,251 unitsabout 8% of the highest this year.
His stock Alpha Bank limited to -1.16% and 1.53 euros, its share Piraeus folded to -0.22% and 3.557 euros, its share Eurobank unchanged at 2.056 euros, while its share National Bank increased to + 0,49% and 8,14 euros.
The nervousness returned
The Athens Stock Exchange struggled to sustain yesterday’s upward reaction, which again succumbing to nervousnesswith the result that the General Index is maintained in the area of 1,420 units, ie at minimum distance from the supports of 1,400 units.
The Greek market, in this way, could not recover the lost ground after the downward streak of the previous weeks, which brought the main index to a up to 6.5% relative to the recent high of 1,502 units.
What is certain is that the “trouble” of political uncertainty, where markets are traditionally adversarial, continues to disrupt Europe. France’s early parliamentary elections are scheduled for June 30 (first round) and July 7 (second round).
Therefore, the current is excluded nervousness which will continue until the beginning of next month, when we will be wiser from the result of the French ballot box.
In any case, investment visibility it is characterized by the low level of Old Epirus and it reasonably affected Athens as well, despite the fact that the medium-long-term context of the house does not seem to have changed much.
the 1,400 units remains the main psychological support of the market, any collapse of it, according to the technical analysis of HellasFin, will test the stability of 1,380 – 1,360 unitswhile the average index of the last 200 days follows 1,339 units.
At the same time, his decision will be announced tomorrow MSCI for its inclusion or not Stock Exchange of Athens on a watch list, with the goal of upgrading to developed market in depth of 12-24 months.
As far as corporate developments, next week will follow dividend cut in a listed series, something that undoubtedly affects the psychology and also the decisions of traders.
Now, without dividend rights, their shares are sold Noval and Trade Estates.
Losses in Europe
Abroad, now, the pan-European Stoxx 600 lost the positive momentum of yesterday, as a result it fell to -0.13% and 514 points. In Paris, at the same time, the index CAC 40 limited to around 0.7%.
On the other side of the Atlantic, after its new high season S&P 500just short of the 5,500 unit milestone, the focus is on Nvidia, whose market capitalization surpassed that of Microsoft. But today, the market is closed because of the holiday.