Wall Street saw a "surge" last night, following an earlier "rally" in Asian markets, as Donald Trump claims that the agreement is set to be signed this weekend. Tehran, which initially denied Trump’s announcements on Truth Social regarding an agreement, later backtracked, claiming it had not reached a final decision.
In any case, traders worldwide have started the pre-announcement party: SpaceX is gaining $75 billion, Brent is falling below $90, and the VIX/CBOE is plunging 12.5% to 19.44 points.
However, S&P 500 futures are trading at a slight discount in the week’s final session as traders take positions. Both short and long, as this time Trump’s statements are more convincing than in the past, Tehran appears to be shifting its stance; the weekend is coming up, and each side will take its risks today.
A very interesting short-term bet, as taking “sell” or “buy” positions ahead of this weekend’s developments and Monday’s market open points to a session of heightened volatility. From European stock exchanges to... Athens.
With DAX futures trading at a premium, contracts on the EuroStoxx Banks point to an upward “opening,” a trend that concerns investors trading on Euronext Athens.
The DTR stood at 2,679.38 points, after fluctuating between 2,638 and 2,679, with the day’s high at the “close,” marked by a significant “rally” in the last 5 minutes of the session. This indicates that several long positions were taken yesterday across all four systemic stocks. At the same time, similar positions were opened in several blue-chip bellwether stocks, particularly in PPC, GEK TERNA, OTE, as well as Allwyn, TITAN, Motor Oil, HelleniQ Energy, and also in Lamda Development, Coca-Cola HBC, ADMIE, and others.
Specifically regarding ADMIE shares, the buying activity at new all-time highs aligns with reports of potential contributions of 1 billion euros to the share capital increase (SCI). In the final stretch ahead of Tuesday, with Giorgos Fintakis having the inside scoop.
ADMIE, following PPC, is another bet for traders, with the company’s track record having created a bullish sentiment. PPC shares are trading four euros above the rights issue price, a fact that provides “fuel” for those who have shifted their positions to the Operator.
After two consecutive sessions marked by distinct stock picking—more intense and widespread yesterday compared to Wednesday’s session—this could yield gains within a T+2/3 timeframe (for those who entered positions from Wednesday’s lows).
Stock picking over these two days is supported by positive reports and analyses from firms regarding specific blue chips and mid caps.
JP Morgan is revising its target price for the PPC share to €25, up from €21 previously. With gallium as the “key,” BofA sets a target of €52 for Metlen Energy & Metals shares; NBG Securities considers €65 a fair price for TITAN; and Optima initiates coverage of Bally’s/Intralot with a buy recommendation.
These individual target prices, while not having an overall impact, do shape the trend for specific stocks, as we noted in yesterday’s commentary.