The renewed tension between the U.S. and Iran has led to rising oil prices and falling stock prices.
S&P 500 futures in New York are down 0.32%, with sellers holding the advantage in Frankfurt; in Paris, investors in Athens are moving toward partial hedging.
Brent crude is at $96, S&P 500 futures are at 7,520 points, and the DAX 30 is at 25,143 (-0.23%).
Limited profit-taking in European bank stocks, with the EuroStoxx Banks index down 0.27% to 270.89 points.
In Athens, investor sentiment became apparent as early as 10:25 a.m., as the majority of orders for bank stocks and blue chips were placed at slightly lower prices.
The DTR opened at 2,704.28 points, with a small downward gap and a decline of up to 20 points, driven by selling pressure across all four systemic stocks. I remind you that in yesterday’s session, the low for the DTR—and for the market in general—was recorded in the first half-hour, after which any selling pressure was absorbed, resulting in a rebound higher. It remains to be seen whether a similar move will occur today, considering that tomorrow, Friday, is also the index rebalancing. Tomorrow’s session—the last of May (and the five-month period)—suggests it will be an interesting one.
The pace of orders is somewhat slower compared to yesterday, with trading volume at €26 million as the half-hour mark was reached, including €5.4 million in pre-arranged orders. The largest order was for 147,000 PPC shares at €21.44 (at 11:00 a.m.), with a total value of €3.15 million.
And today, it remains at the top of the relevant ranking with orders in the range of €21.08–€21.48, as the supply—primarily of shorter-term positions— is likely being absorbed immediately by more medium-term investors.
An interesting development is Chevron’s entry into Block 10, acquiring a stake in HelleniQ Energy. This is yet another move that underscores the significant importance of the sector in the broader sense. Orders for the group’s stock are at €9.95–10.18.
Orders for Metlen shares are at €40.62–41.28 , with the initial offer being absorbed without any particular issues, as is the case with Cenergy Holdings—from €24.88 to €25.26.
Motor Oil saw net buying at 37.62 (2.18%) following the announcement of strong quarterly results, as did EYDAP (10.38) and Sarantis (15.46).
EXAE (7.48), Qualco (5.84), Intracom Holdings (3.785), and ADMIE (4.065) stand out among the mid-caps.
The ratio of stocks with positive to negative performance stands at 38/57. The biggest gains were seen in Alpha Trust Andromeda (8.70), mezzanine funds, and ELTON (1.935), Y/KNOT (1.40), Revoil (1.60), and others.
Trading value stands at €37.8 million as of 11:20 a.m.