Without the expected “boost” from mega deal with Terna Energy the meeting is now underway Stock Exchange of Athens+su
ch as pressure on refining companies negatively affect investment psychology.
In any case, the news of the day is about the agreement with the Arabs Masdar with most TENERG package, something that in the long run is expected to benefit not only the main shareholders, but the entire market, by improving the available liquidity.
From there, investors’ attention remained focused on the home MSCIwho within that day will announce the inclusion or not of AA sa watch list (view list) for possible upgrade in developed markets in depth of 12 to 24 months.
In this context, during today’s meeting, Mr General Index he noted softly less than 0.39% and formed by 1,420.53 units, lost at least 5.5 points from Wednesday’s close (1,426.20 points).
the arc of diurnal variations up to 15 units (from 1,419.11 to 1,434.66 units), with transaction turnover in the range of 65 million eurosof which 3 million euros concern the agreed packages.
On board, today, the Terna Energy deal gives impetus to the entire energy sector, with TENERG, GEK TERNA and PPC to earn up to 1.8%. However, the mood was “damaged” by the decision to impose a unique tax on refinement, which pushed the Motor Oil and Hellenic Energy to -4% and -2%, respectively.
1.5% reduction in banks
The banking index, for its part, broke the two-day bullish streak and again won the sellers, as a result of which it was in -1.38% and 1,244 units.
His stock Eurobank its share decreased to -1.96% and 2.046 euros National Bank limited to -0.98% and 8.10 euros, its share Piraeus folded to -1.26% and 3,518 euros, while its share Alpha Bank fell by -1.49% and 1.521 euros.
The image of the dashboard
In the high-cap index (-0.50% and 3,438 points), the share of GEK TERNA jumped to + 1.9% and 16.9 euros, towards a new 24-year high. Its share also shows gains of 1% Terna Energywhich increased to 19.3 euros. PPC, Aegean and Titan cement, at the same time, an increase of at least 1%. On the contrary, its part Motor Oil withdrawal of 4%, while its stock Hellenic Energy “fell” by 2.2%, as a result of the refining tax.
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In the focus of TERNA and MSCI
The day at the Athens Stock Exchange started with excellent news, with Terna Energy announcing the deal with the Arabs at Masdar for the sale of the majority stake (67%) for 20 euros/share. Of course, among the major beneficiaries of the deal are GEK TERNA, which controls 37.9% of the shares, as well as George Peristeris, who directly owns 11.0%.
The fact, however, that the Arabs, in the second year, intend to continue with public proposal as the acquisition of the remaining share capital is estimated to release a large liquiditymost of it will return to the local market, in the form of new investment movements.
Since then, Athens Avenue has been waiting for its verdict during the day MSCI, who will continue to regularly update the stock exchange classification list. All hope that the report will provide for the inclusion of AA in watch list (view list) for possible upgrade in developed markets in depth of 12 to 24 months.
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All this is expected to play a key role in investment psychology, which has recently been influenced – almost exclusively – by political developments in Europe -especially in France, which is marching towards early parliamentary elections on June 30 and July 7.
THE low investment visibility this made buyers more parsimonious, reluctant to take more risks as long as this political situation continued in the Old Continent.
And this, despite the fact that the medium-long term framework in Athens Avenue does not appear to have changed, with political stability assured until 2027, listed companies to improve profits, dividend yields to increase and macroeconomics remains stable.
Within this environment, the General Index at least goes a long way 5% from this year’s peak at 1,502 units, with 1,400 units being the main support, any loss of which could lead to 1,380 – 1,360 units. THE average over the last 200 daysit remained at 1,339 units.
Small profits in Europe
Abroad, now, the pan-European Stoxx 600 slightly strengthened to + 0.48% and 516 points, while investors turn their eyes to the current decision of Bank of England for the amount of interest, on a part of the first edition government bonds from France after announcing early elections.
On the other side of the Atlantic, after yesterday’s holiday, the US indices are preparing for a positive opening, with the barometer. S&P 500 to test the psychological limit of 5,500 units and its stock Nvidia to continue the leaping march towards successive records.