They are in front again valuable support of 1,400 units on Stock Exchange of Athenswhile sellers remain on the reins for 3rd session in a rowthereby endangering the critical milestone.
THE dividend cutthe absence of domestic catalysts, the long weakness of banks and the nervousness abroad they constitute a negative cocktail, which does not allow the General Index to move upwards.
Therefore, the Greek market “struggles” to protect 1,400 units, which is the last serious mound before the 200-day moving average (1,339 points), which is related to the long-term trend
More specifically, during today’s meeting, Mr General Index unusual notes less than 1.10% and formed by 1,404.43 units, lost 15.5 points from Tuesday’s close (1,420.06 points).
the arc of diurnal variations up to 17 units (from 1,402.08 to 1,419.75 units), with transaction turnover in the range of 55 million euros, of which 6.7 million euros concern the agreed packages.
On the board, now, the melt decreased by 3%, because from now on it is trading without the right to a dividend of 1.5 euros. The same happens with Motor Oil (“cutting” a dividend of 1.4 euros), which will lose almost 5 4%. At the same time, National limited to 7.6 euros and the two month low.
New dip in banks
The banking index is once again targeted for sellers as it retreats -2.02% and 1,202 unitsthat leaves it nearly 11% off the year’s high of 1,349 units.
His stock National folded to -2.69% and 7.61 euros (two months low), the share of Eurobank decreased to -2.26% and 2.08 euros, its share Alpha Bank traded at -1.66% and 1.4495 euros (6 months low), while its share Piraeus it follows -1.13% and 3,336 euros (5 months low).
The image of the dashboard
In the high-cap index (-1.17% and 3,402 points), the share of melt retreats to -3% and 35.1 euros, while its share Motor Oil fell by -4.8% and 23.9 euros. Since then, the parts of Jumbo, AIA and PPC they lost by 1.2%, 1.8% and 2.4%, respectively. However, its stock Aegean increased to + 1% and 11.1 euros. OPAP and OTEincreased around + 1%, with the second reaching 14 euros.
Regarding the mid-cap index (-1.14% and 2,250 points), the stock of Optima Bank, after a series of historic highs, corrected to -3.2% and 12.5 euros. The parts of Technical Olympian and AVAXwith parts of Austriacard, Fourlis, Ideal, Lavipharm, Quest and Plastics of Thrace to follow the above -1%.
Overall in the stock market, 30 stocks were higher, 68 stocks decreased, while 13 stocks were unchanged. THE capital in the market ranges of 97.9 billion euros.
The Stock Exchange has run out of… fuel
In a narrow range of fluctuations between 1,400 – 1,460 units The Athens Stock Exchange is still running, while only a few remain three meetings until the end of June, but also in the first semester.
With a mega-deal for its sale Terna Energy which was announced again MSCI which will not show favoritism to Greece by continuing the AA in Show, pick marketsthe Greek capital market … ran out of special fuel.
This makes him vulnerable again to international shocks/changes, because all attention is on early parliamentary elections in France and the risk of government instability in Europe’s No.2 economy.
At the same time, successive dividend cuts come – by tradition – to boost sell orders across the board. Remember that yesterday a total of 10 listed companies “cut” the right to this year’s award, while today it’s the turn of melt (1.5 euros/share), Motor Oil (1.4 euros/share) and Fourlis (0.12 euros/share).
Investors’ interest is also focused on the banking sector, which now 9% away from recent high, with Alpha Bank and Piraeus receiving the most severe pressure. This resulted in the former being at its lowest level since November and the latter at its lowest level since January.
The recent statement of the Minister of Economy, Kostis Hatzidakisfor the possible intervention of the state on the issue of fees, comes to intensify the concern of the sector, negatively affecting the climate.
Within this framework, the General Index remains in the region of 1,420 units, with a doubling from multi-year high of 1,502 units which is calculated at something more than 5.5%. However, this did not negate the significant increase in the first half, which was around +10%
From a technical point of view, the 1,400 units still the mainstay ‘s support in the General Index, which appears together with the first ones resistances on 1,460 units. The average index for the last 200 days was set at 1,339 units.
Stagnation in Europe
Abroad, now, the pan-European Stoxx 600 lose all gains in the morning and almost unchanged at 517 points, while the investment nervousness remains dominant in the view of French elections (on June 30 the first phase).
On the other side of the Atlantic, after his return yesterday S&P 500 in positive territory, its future Wall Street shows marginal fluctuations as traders turn their eyes to Friday’s inflation data (personal expenditure prices).