European markets are trending higher, with attention focused primarily on developments in the Middle East.
A gradual shift in sentiment on the Greek stock market, as following the delayed partial locking in of positions, buyers returned to more blue-chip stocks, confirming the long-term trend that is pushing the General Index toward the 2,400-point range.
S&P 500 futures remain at a marginal discount, with the DAX 30 at 25,217 (0.90%), the CAC 40 at 8,205 (0.73%), and the EuroStoxx Banks at 273.11 (0.93%); any selling pressure on banking sector stocks during the first hour of trading was absorbed from slightly lower levels.
A session characterized by continued inflows—from Friday’s rebalancing—primarily into PPC shares and increased turnover via pre-arranged orders from the start today, suggests more of a repositioning with an eye toward higher prices than “distribution of shares” (completion of an uptrend).
Almost at the “opening,” a trade for 1.92 million National Bank shares at 14.825 euros, with a total value of 28.53 million, a turnover that gradually increased through other trades in Piraeus Bank, PPC, ADMIE, and others, reaching €43.47 million earlier in the day. Trading volume stood at 20.9 million shares, with a trading value of 172.6 million euros (shortly before 2:45 p.m.), with PPC shares again among the top performers in the relevant ranking today.
This is a strong indication of substantial interest from mid- to long-term portfolio managers, with the group’s valuation now approaching €13 billion. Orders—as of earlier—were at €21.64–22.32, just a hair’s breadth from the all-time high of €22.50.
National Bank shares at 14.985 (1.04%), Piraeus Bank at 9.21 (0.85%). Alpha Bank at 3.892 (-0.48%), Eurobank at 3.977 (-0.37%).
Buyers and sellers were evenly split on the shares of the systemic banks, with the DTR at 2,739 (0.28%), showing a “turnaround” as reported after 2:30 p.m.
A “first” for Safe Bulkers shares , trading in the range of 6.05–6.90 euros, with trading volume and volatility working in the venture’s favor. A successful debut, seen by brokers as a harbinger of a similar trajectory for other prominent shipping names.
At the same time, however, there were inflows into shares of Viohalco Group companies and, gradually from 1:00 p.m. onward, into blue-chip bellwethers, most notably Motor Oil.
A spectacular rise to 38.54 (4.23%), with increased trading volume. Management is proceeding with a generous dividend payout—with stock market sources not ruling out the possibility of a larger reward for shareholders/investors.
The ratio of stocks with positive/negative performance stands at 64/54. New highs for Piraeus Bank (9.242), HelleniQ Energy (10.49), Viohalco (21.35), as well as KRI KRI (28.25), Ideal Holdings (7.09), EKTER (5.03), and Real Consulting (6.98).