Investor sentiment in European markets was negative, while the Greek stock market was positive.
The General Index shifted from negative to positive territory, with a turnaround just before the end of the first hour, resulting from a realignment of sellers and buyers centered on PPC.
A "debut" for the new shares resulting from the 4.25 billion euro capital increase; the large number of new shares initially caused the price to drop to 20.66 euros. The day’s low, with any selling pressure quickly subsiding, resulting in orders being placed at increasingly higher prices shortly after 11:20 a.m. Up to €21.96. Unprecedented for stock market standards, the “first” trading session saw new shares from the capital increase enter trading, with investors driving the price to new all-time highs for the company.
First in the relevant ranking by trading volume, surpassing the four shares of the systemic banks. A sign of the times, according to a broker who refers to a new era not only for the PPC Group but for the broader energy sector.
The General Index reached 2,303 points, with trading between 10:30 a.m. and 11:20 a.m. showing a gradual shift in trend, mainly due to PPC but also driven by buying activity in both banking stocks and the majority of blue chips. At 1:45 p.m., the General Index hit a high of 2,344.15 points, at which point some selling emerged, as short-term traders apparently took profits on their gains.
The DTR rose from 2,626 to 2,689 points as liquidity that had been “allocated” to the PPC rights offering gradually began flowing into the system. It is well known that the gradual crediting of the (subscription) amounts to the respective codes would be allocated both to PPC shares and to bank stocks and blue chips.
From 5,842 to 5,948 points for the FTSE25, as PPC’s “turnaround” was followed by bellwethers such as Metlen Energy & Metals, Jumbo, GEK TERNA, Viohalco, Motor Oil, as well as Allwyn, Cenergy Holdings, HelleniQ Energy, and others.
Orders for Metlen ranged from 39.58 to 40.50 euros, for Jumbo from 22.34 to 22.78 euros, and for GEK TERNA from 42.70 to 43.16 euros.
Trading volume stands at 15.6 million shares, with 7.4 million in banking stocks, and a turnover of 182 million, reaching the total for yesterday’s session.
Wall Street and London are open today , with orders from that market clearly visible.
The ratio of stocks with positive to negative performance stands at 58 to 62, just before 2:30 p.m.