Today (26/6) buyers have a slight advantage in Stock Exchange of Athens with investors “playing” the defense in a row dividend cut but also to prolonged political uncertainty in the second largest economy in Europe, which is France.
Somehow, the General Index is still moving above the critical ones support of 1,400 – 1,420 units that 1,460 units are the main resistances, while the capital market goes through the last week of June, but also in the first semester, preparing to “leave” with double digit performance (> +10%).
It should be noted that now without the right to dividend/return of capital, the shares of OPAP, Titan Cement, Viohalco, Cenergy, ELVALHALCOR, Quest, HEXA, Intracom, Optima and Intercontinental. Tomorrow, right, it’s their turn Metlen, Motor Oil and Fourlis.
More specifically, during today’s meeting, Mr General Index little notes to 0.24% and formed by 1,427.50 units, gained 3.5 points from Friday’s close (1,424.04 points).
the arc of diurnal variations up to 12 units (from 1,419.17 to 1,441.81 units), with transaction turnover in the range of 57 million euros, of which 4.6 million euros concern the agreed packages.
On the board, now, the Motor Oil put a brake on the recent pressures, as a result of the extraordinary tax, and recovered to 25 euros (+3%). Eurobank and OTE, also expanded by more than 2%. On the other hand, the titanium and HE IS HEREwhich “cut” the dividend”, decreased around -3%.
Bank stagnation
The bank index was almost unchanged at + 0.08% and 1,242 units, about 8% away from the peak of the year (1,349 units), but also gained 17% in 2024.
His stock Piraeus folded to -0.92% and 3.431 euros (5 months low), the share of Alpha Bank retreated by -1.73% and 1.4755 euros (7 month low), the share of National traded at -0.62% and 7.97 euros, while its share Eurobank dynamically strengthened by + 2.52% and 2.153 euros.
The image of the dashboard
In the high-cap index (+ 0.32% and 3,464 points), its share Titan cement fell by -3% and 29.7 euros, with shares of GEK TERNA and Autohellas lose from 1.7%. Helleniq Energy, Lamda Development and Viohalco limited to at least 1%. On the contrary, its part Motor Oil, which now secures the right to a dividend of 1.4 euros, jumped to + 3.05% and 25.1 euros. His part OPAPat the same time, despite today’s cut-off, he gained 1%, along with his stock OTE to approach 14 euros again (+ 2,1%) and Coca Cola which returns to 32.2 euros (+1.4%).
As for the mid-cap index (-0.10% and 2,270 points), the stock of HE IS HERE stands negative at -3.9% and 4.6 euros, which is a year low. PPA, AVAX, Search, Profile and NEED retreated more than 1%, while its stock Epsilon it loses 2.4% and returns to 12 euros, ie the price of the public proposal to the main shareholders. However, its stock Optima Bank surged to +3% and hit a new all-time high. THE Intralot, it “flies” to +5.1% and 1.15 euros. Special mention should be made of Intercontinentalwhich fell to a limit, due to the cut of the large dividend (46% yield).
Overall in the stock market, 44 stocks are moving higher, 50 stocks are decreasing, while 15 stocks are unchanged. THE capital in the market ranges of 99.3 billion euros.
Innovation prevails
In the last week of June, the Athens Stock Exchange passes, with the General Index suffering, for several days, a narrow range of fluctuations, ranging from 1,400 to 1,460 units.
If the monthly loss does not exceed 0.5%, it is clear that the Greek market is not going through the best possible period. And it becomes more noticeable, if we consider that the folding from the recent high of 1,502 units amounts to -5.4%.
The last week of June, for many analysts, is considered extremely critical for the short term, with “endurance” of 1,400 units which is the main issue, as in the event of the loss of supports, the way was initially opened for 1,380 – 1,360 units and later for 1,339 points, which is in line with the 200-day moving average.
It is clear that the four GD meetings at the end of the month are largely determined by pinnacle of… drama in Francegiven that next Sunday (30/6) the first round of parliamentary elections will be held.
The results of the ballot box, in relation to second round on July 7will shape the level of political stability in the No.2 economy of the Old Continent, which we must not forget that in 2025 we must also elect a new president.
More than that, the volatility is expected to be caused by many cuts for the rights to collect corporate awards, because today and tomorrow. A total of 13 listed companies have “cut” their dividendwhich will undoubtedly prevail melt (1.5 euros/share), Motor Oil (1.4 euros/share), OPAP (0.25 euros/share), Titan cement (0.85 euros/share), Viohalco (0.12 euros/share), Cenergy (0.08% euro/share) and ELVALHALCOR (0.0.4 euros/share). In total over the two days, the deductions were related to 691 million euros in dividends.
However, excluding the last few weeks, where low investment visibility and the exogenous political uncertainty had a negative impact, the general trend of the Athens Stock Exchange remained positive.
Something that is clearly shown in the attractive valuations across the board (many P/Es below 10x), strong company sizes, high dividend yields, solid macros, and back-to-back business deals, creating new- value for shareholders and increases available liquidity for investors.
Panic in Europe
Overseas, today, the current week is monopolized by hurricanes political developments in Francewhich resulted in up to first ballots on June 30 investors to indulge careful waiting movements.
So, the pan-European Stoxx 600 now fell to -0.35% and 517 points, with the French index CAC 40 lose 0.8%. on Wall Streetfutures showed a strong open, following last night’s pressures in the tech sector