With attention focused primarily on Iran, European investors are watching closely, while on Wall Street, S&P 500 futures are pointing to an opening 0.17% higher at 7,485 points.
It’s the last trading session of the week, with the market looking for confirmation of reports that the U.S. and Iran are converging on key terms—a preliminary agreement—that would include a ceasefire and free navigation in the Strait.
It remains to be seen whether this will be confirmed or not, as (and) the markets approach the end of the third month since the start of the war (late February).
Alongside the Iran situation and economic factors—interest rates, energy, inflation, etc.—investors in New York are close to closing out the week with positive results. The weekly change for the S&P 500 stands at 0.56%.
The DAX 30 is up 3.44% at 24,785 points, and the CAC 40 is up 2.10% at 8,120 points.
The EuroStoxx Banks closed in positive territory at 266.93 points, with the upward trend favoring long positions on Euronext Athens.
The weekly change for the DTR was up 1.06%, a highly encouraging development as it was achieved during a week marked by significant sell-offs from all four systemic banks. Despite the reasonable withdrawal of liquidity, the DTR remained in a bullish trend, and PPC shares rose 6.13% over these five sessions. A strong indication that in our “shallow,” bank-heavy stock market, “foreign hands” are in control of the situation, able to achieve twice the result they want.
This week of the PPC IPO, which is coming to a close shortly, has been admittedly spectacular throughout the process, with volumes unprecedented by Greek standards. With the share price at 21 euros earlier, the first shares have already begun to be credited to the accounts of those who participated in the process. Approximately 30% of the demand was for those who had subscribed to the “foreign book,” and 6% for the “domestic book.” By Monday, the settlement will be fully completed; starting Tuesday, the new shares will be listed on the board, and PPC will be in fourth place in the ranking with a market capitalization exceeding 11.5 billion.
Mixed trends for the systemic banks, with sellers in Eurobank (3.681), and buyers in Piraeus (8.56), National (14.10), and Alpha Bank (3.558).
In fifth place is Bally’s/Intralot stock with significantly increased trading volume, 5.4 million shares, and up 3.66% to 1.16 euros. Community members are looking forward to news from London in the very near future (bid for Evoke).
Buyers were active in Metlen Energy & Metals (38.72), GEK TERNA (40.36), ADMIE (3.545), OTE (18.71), Cenergy Holdings (24.02), Viohalco (19.30), Jumbo (22.18), Credia Bank (1.262), and others.
George Fintikakis discusses the plan that will drive the Metlen Group’s EBITDA to 2 billion;Anastasia Papaioannou focuses on Credia Bank’s revenue diversification strategy; and Ilias Zacharakis discusses five mid-caps that deserve a higher valuation (speaking with George Flokas).
A good week—in many respects—with substantial interest, momentum, and strong returns.
The ratio of stocks with positive/negative performance stands at 71/48. Standouts include Intracom Holdings at 3.69 (5.73%), boosted by the acquisition of Europe Holdings (by Credia Bank), Hellenic Exchanges at 7.35 (1.94%), TREK at 4.03 (1.77%), and others.
Trading volume stands at 14.74 million, via block trades. As of 3:20 p.m.