With a positive mood prevailing on European stock markets, the session on the Greek market ultimately followed a similar trend.
While investors’ attention remains focused on developments in the Middle East, it is also turning to the rally fueled by the technology sector and Artificial Intelligence. Already, a hot topic is the prospect of a SpaceX IPO—which, in terms of market capitalization, would reach half of France’s GDP. This gives a sense of the order of magnitude—the abysmal gap—between U.S. and European assets.
On the Iran front , uncertainty persists , with recent developments bolstering those who did not expect any kind of agreement by the end of May. However, the possibility of a return to the previous situation—of massive strikes—is considered the least likely; after all, three months on, investors have adjusted to the new reality in the Middle East.
As for Europe, the consequences are even more severe this time—an area where the impact will be felt immediately is the cost of money—as the ECB is being pushed toward raising interest rates at its June 10–11 meeting. At the same time, the major issue of energy costs looms large, with Brussels moving to impose the 21st (!) package of sanctions against Russia. George Papanikolaou was spot-on in NewDeal regarding the end justifying the means, in terms of Brussels’ stance toward Ukraine and Russia.
In this international environment, the domestic repercussions are twofold. On the one hand , inflation—already at 5% and out of control— with all that this implies for the real economy, entrepreneurship, and so on. On the other hand, the steady outperformance of the stock and bond markets, with today’s session confirming the momentum of Euronext Athens.
A session that may have begun with a delayed partial consolidation of positions—following yesterday’s holiday and the week’s positive momentum that preceded it—resulting in the General Index correcting to 2,363 points. There were selective sell-offs in bank stocks and blue chips, with the DTR reaching 2,696 points and the FTSE25 hitting 5,995 points. This occurred in the first hour, as buyers gradually re-entered the market, resulting in a "turnaround" with the General Index ultimately settling at 2,374.48 points with a marginally positive sign.
Today was significant, as it was the “first” trading day for Safe Bulkers and the very first following Friday’s rebalancing. Other shipping companies will soon follow on the Greek stock exchange, according to Poly Hatzioannou, with the shipping company’s CEO ringing the opening bell.
Orders at 6.05-6.90 euros, double-digit rise for the stock, with increased trading volume for the "first."
Significant trading continues in PPC shares —in the range of 21.24–22.32 euros—with the group’s valuation at 12.832 billion euros.
GEK TERNA shares also made their debut on the MSCI Greece index, with steady order flow in the range of €41.52–€43, a trend expected to continue due to new inflows.
However, Motor Oil stole the show with a spectacular 6.54% gain to €39.40, accompanied by increased trading volume. According to brokers, the record first-quarter performance—which they anticipate will continue into the second quarter—leaves open the possibility of distributing additional profits to shareholders/investors.
Cenergy Holdings shares are at €25.54 , ElvalHalcor at €5.28, and the Viohalco group remains strong today .
Alpha Bank shares are at €3.92—with net buyers—and Jefferies explains why it is revising its target price to €5.
The sentiment is also positive for specific mid-caps, with KRI KRI hitting new all-time highs of 38.30 (4.81%) and a valuation now approaching one billion ( ! ) euros. A new rise, to 7.02 euros for Ideal Holdings shares, with management set to provide an update next Tuesday on Attica Department Stores—scheduled for listing in late June—to 4.97 with a new rise, and EKTER, with Real Consulting hitting new highs of 6.88 euros.
These are representative examples from a total of 64 stocks with positive performance, compared to 53 with negative performance.
With a turnover of 324 million euros, 39 million shares traded, and pre-arranged orders totaling 63.7 million euros (large blocks in National Bank and PPC).