Investor sentiment on European stock markets was positive, with the banking sector leading the way as long positions sought to end the week on a positive note.
With no significant developments in the Middle East, traders’ attention will focus on the latest economic and corporate news, while in European markets, interest is also centered on the upcoming ECB meeting. Next week, on the 10th and 11th, with the market already pricing in a 25-basis-point rate hike (to 2.25%), we’ll see.
What this development will mean for entrepreneurship, the real economy, and consequently for society, at a time when Europe’s economy is in decline, is obvious.
From this perspective, the 2% growth for the Greek economy in the first quarter, according to ELSTAT, is undoubtedly encouraging.
With the DAX30 at 24,999 (0.34%), the CAC40 at 8,286 (0.51%), and the EuroStoxx Banks at 272.57 (0.62%) on Euronext Athens, the effort to restore long positions relies primarily on the banking sector.
The DTR rose to 2,682.31 points from yesterday’s low of 2,624 points, a result of the combined “liquidation” of trading positions in systemic stocks, the positive outlook from foreign firms (e.g., Deutsche Bank), and some excess liquidity being deployed with a short-term horizon.
The DTR is up 2.21%, with inflows into all 4+3 stocks in the sector; notably, National Bank of Greece has once again taken the top spot in the relevant ranking, while Piraeus Bank, Eurobank, and Alpha Bank follow behind PPC, which is in second place. Trading volume also increased for Cyprus, Optima Bank, and Credia Bank.
With low turnover—just €89 million—at 2:00 p.m.—far less than in the previous three sessions.
Buyers are returning to most blue-chip stocks, with leverage building in specific mid-caps.
National Bank shares at 14.77 (3.34%), Piraeus Bank at 8.838 (1.54%), Eurobank at 3.907 (2.05%), and Alpha Bank at 3.769 (1.87%) .
Cyprus Bank shares at 9.53 euros, Optima Bank at 10.39, and Credia Bank at 1.25.
The FTSE25 is above the 6,000-point mark, with buying activity in Metlen Energy & Metals (41.40), GEK TERNA (43.18), OTE (18.20), Cenergy Holdings (25.32), AEGEAN (12.18), AIA (10.25), HelleniQ Energy (10.40), and others.
The ratio of stocks with positive/negative performance stands at 70/44. IDEAL Holdings shares hit a new high of 7.27 (1.82%), Fourlis at 4.47 (3.47%), and Bally’s/Intralot at 1.175 (-0.54%). Eva Kantilari has the details on the pro forma picture of the new consolidated company that will be created if the public offering is successful.
Trading volume via pre-arranged orders stands at 15.15 million, with the most significant activity today in PPC and National Bank.