Investors are carefully assessing the latest developments regarding Iran.
Significant correction in oil prices—in the futures market, Brent stands at $95.84, though this refers to futures and not the spot price—the yield on the 10-year U . S. Treasury note is marginally up at 4.49%, with the VIX/CBOE slightly lower at 16.70 points.
Moderate gains on European stock markets, despite the wide 1.13% premium of S&P 500 futures on Wall Street.
With the DAX30 at 25,121 (0.77%), the CAC40 at 8,197 (1.02%), and the EuroStoxx Banks at 271.75 (1.72%), the start of the session on the Greek stock market was a foregone conclusion.
Of the 2,594 shares opening higher, the first buy orders were for banking sector stocks; by the 15-minute mark, the DTR had risen to 2,644 (2.85%)
Trading volume reached 1.8 million shares, with nearly 1 million in banking stocks—by 10:45 a.m.—reinforcing the view of those who believed that the leading sector would initially be the primary destination for buyers participating in the PPC rights offering.
Given that the Group’s new shares are set to begin trading tomorrow, the creation of a “buffer” above 20 euros was expected. In fact, earlier in the session, bids reached 21.04 euros— a new high—for the PPC stock.
Tomorrow, liquidity will be "credited" to the accounts of participants in the relevant process; it remains to be seen whether the flow toward the sector’s stocks will continue at a similar pace. Obviously, this will also depend on the session in New York.
With a clear long strategy from the start until earlier (10:50 a.m.), orders spanned a wide range of index stocks, including banks and blue chips, while leverage conditions were forming in specific mid-caps.
The General Index rebounded above 2,300 points, with the DTR outperforming and the FTSE25 rising 1.67% to 5,853.
Trading value stood at €19.4 million, with €2.1 million coming from pre-arranged orders in the first 20 minutes.
The opening session saw active participation from intraday traders—taking advantage of volatility—and it remains to be seen whether the market will strengthen its momentum toward the 2,320-point level—a nearby resistance level— for the General Index—or if there will be an attempt to partially lock in short-term positions—which is entirely normal from the perspective of those who had entered at lower levels on Thursday and Friday.
At 21 (1.94%) for PPC shares, at 3.67 (3.84%) for Alpha Bank, at 8.708 (2.25%) for Piraeus Bank, at 3.837 (3.76%) for Eurobank, and at 14.45 (2.07%) for National Bank.
Next are Credia Bank (1.292), Metlen Energy & Metals (39.22), TITAN (48.06), AEGEAN (12.16), Jumbo (22.40), as well as Bally’s/Intarlot (1.17), GEK TERNA (41.80), ADMIE (3.74), Allwyn (12.09), and Motor Oil (35.06), all with a greater or lesser buyer advantage.
At 84/17, the ratio of shares with a positive/negative sign, indicative of the market sentiment in the past half-hour.