Movements beautify (window dressing) was observed in the last meeting of the month, in the second quarter and in the first semester of Stock Exchange of Athens resulting in the General Index successfully protecting the critical psychological support of 1,400 units.
In a way, despite the fact that June “lost” with losses of 1.8%due to the same non-compliance with AA in watch list from MSCI, as well as the general political uncertainty in France, performance in 2024 remains at a satisfactory level, reached +8.6%. At the level of the second quarter, the change was negative at 1.2%.
Regarding today’s meeting, the buyers they were able to put “brake” for 4 days of falling in a rowFINDING props on selected stocks of High Capitalization and “removal” slightly from two months down.
HOWEVER low investment visibility and the French polls on Sunday they did not allow a large breakout to the upside, which it continues to -6.5% away from this year’s high of 1,502 units.
More specifically, Mr General Index marked as marginal to 0.27% and formed by 1,404.26 units, gained about four points from Thursday’s close (1,400.43 points).
the arc of diurnal variations set at 11 units (from 1,400.24 to 1,411.95 units), with transaction turnover in the range of 128 million eurosof which 8.1 million euros related to pre-agreed packages.
On board, now, its upgrade Alpha Bank from Moody’s gave “wings” to the stock (+4.1%), which once again exceeded 1.5 euros. Starting today, PPC and Jumbo “jumped” to + 3%, while OTE and OPAP lost from 1%.
Alpha “shine”.
The bank index was able to protect the current level, which ended in + 0.31% and 1,213 units. Of course, the fall in June reached 9%.
His stock Alpha Bank dynamically strengthened by + 4.17% and 1.5235 euros, its share Piraeus its share increased slightly by + 0.35% and 3.406 euros National fell slightly to -0.21% and 7.784 euros, while its share Eurobank decreased to -1.41% and 2.021 euros.
The image of the dashboard
In the high-cap index (+ 0.31% and 3,401 points), its share Aegean expanded to + 3.6% and 11.6 euros, recovering from a 7-month low. Its stock rose 3% PPCwith parts of Jumbo and In Lam to + 2.9% and 2.7%, respectively. His stock Mytileneos, closed at + 1.1% and 34.8 euros. On the contrary, the parts of OPAP and OTE lost 1% and 1.3%, while shares of Viohalco, Titan Cement, Coca-Cola and Cenergy decreased from 1.5% to 2%.
Window dressing, with a view of France
The Athens Stock Exchange is at a critical crossroads, still looking for one meaningful and convincing answerto escape from 1,400 units and two months down.
And all this, while Greece and abroad turned their eyes to France, where on Sunday the first round of early parliamentary elections. According to opinion polls, President Macron’s party is only in 3rd place, behind the extreme right and the Left Alliance.
This, if confirmed in the second round on July 7, will lead to a situation where the president is on the opposite path of the government. With everything it needs for political stability No.2 economy in the Old Continent.
In this context, the Greek market said goodbye to June with a loss of -1.8%which means that the cumulative change in first half of 2024 is +8.6%.
The 1,400 units are still the staple ‘s support. Any loss of them, according to analysts, will take them ahead of a segment 1,380 – 1,360 unitsexcept for him average over the last 200 days (1,339 points), which is related to the long-term trend.
On the other hand, the 1,460 unitswhich has been ignored since May 28, constitutes the first resistance of the General Index, but also the first obstacle before the return of year and a 13-year high of 1,502 units.
Europe nervous, Wall record
Abroad, today, the situation in Europe remains nervous before the important elections of France, while we should not forget that the parliamentary polls in the United Kingdom are also following. So, the general index Stoxx 600 was at -0.09% and 511 points, losing about 1.5% in the month.
On the other side of the Atlantic, high inflation data (price of personal expenditure) gave a boost to US indices, with S&P 500 to gain 0.6% and surpass the milestone of 5,500 units. or Dow Jonesstrengthened by at least 200 units.