The upward trend in European markets continues, led by banks and, in particular, blue-chip stocks, as the market attempts to rebound toward the 2,380–2,400 level on the Euronext Athens.
S&P 500 futures are up 0.48% at 7,447 points, the VIX/CBOE is at 18.06 points, and oil prices remain slightly lower—Brent at $92.68— buyers continue to hold the advantage in Frankfurt and Paris.
With the EuroStoxx Banks index rising 2.04% to 273.05 points, the Greek stock market could not help but capitalize on the opportunity. After all, yesterday’s session had already shown the buying sentiment of “strong hands” with positions taken at lower price levels.
In the range of 2,610–2,700 points, for the DTR, trading in bank stocks yesterday, Monday. From 2,680 to 2,720 points—for now—today, a range that justifies the more active participation of "hot money," as we noted in our pre-market commentary.
A 120-point range—Monday’s low to Tuesday’s high—is attracting short-term traders, resulting in increased volatility not only in the banking sector but more broadly across large-cap stocks.
Of the 19.5 million shares traded, 10.8 million were in banking stocks; in fact, for all four systemic banks, orders were placed at up to 2.81% higher (Eurobank).
Turnover stands at approximately €150 million—compared to €264 million in yesterday’s session—with €28.12 million coming from pre-arranged orders.
Banking and PPC stocks remain significant today, while Lamda Development makes an appearance in the relevant rankings. At 1:03 p.m., a block trade of 893,000 shares was executed at €6.29, with the current price at €6.455 (up 3.61%).
New inflows/orders for PPC shares are at €21.72–22.22, from the undisputed leaders of the period.
Eurobank shares are at €4.049, National Bank at €14.825, Piraeus Bank at €8.966, and Alpha Bank at €3.846.
OTE shares are at €18.25, with Eva Kantilari reporting on the information announced by Kostas Nembis at the group’s general shareholders’ meeting.
With inflows, GEK TERNA shares are at 43.20 euros—a new high—Coca-Cola HBC at 50.70 euros, AEGEAN at 12.06 euros, Metlen Energy & Metals at 41.42 euros, and others.
A negative surprise was the "turnaround" in Viohalco (19.30), Cenergy Holdings (23.98), and ElvalHalcor (5) shares. An almost simultaneous "reversal" accompanied by a strong correction and, in fact, increased trading volume (on the sellers’ side), resulting from a reduction in the position of a major player with holdings in all three listed companies.
At 67/50, the ratio of shares with positive/negative signs, just before 3:00 p.m.
Earlier, Attica Department Stores presented its business plan, with Alexandra Gitsis providing us with the details.