Traders on Wall Street are focusing on the Fed’s first meeting under its new chairman, Kevin Wors.
Interest is focused primarily on statements regarding the policy to be followed, as the interest rate environment directly affects cutting-edge sectors that generate significant value—such as AI, tech giants, and, most recently, SpaceX. With the stock trading above $200—$70 higher than its IPO price—the premium is evident, and the effort to maintain it is understandable.
S&P 500 futures are trading at a 0.12% premium, above 7,526 points. At 24,938 (0.17%) for the DAX 30, 8,467 (0.24%) for the EuroStoxx Banks, and 292.38 (1.18%) for the EuroStoxx Banks index, the banking sector’s “turnaround” in Athens came relatively easily.
From the start of the session, there was an attempt to partially lock in short-term positions, resulting in sellers gaining the upper hand in National Bank, Piraeus Bank, and Alpha Bank. Buyers were in the majority for Eurobank shares, with orders placed for the DTR ranging from 2,882.77 to 2,853.75 points—the day’s low at 11:10 a.m.—a level from which buying activity was triggered, gradually rising to 2,873.73 points earlier (at 14:55), with the sector index returning to positive territory as buying also picked up in National Bank (15.45), following Eurobank (4.333).
Trading volume was rather modest—with a turnover of 150 million euros (at 3:00 p.m.) and 27.72 million euros through pre-arranged orders. The most significant activity was seen in shares of GEK TERNA, PPC, OTE, as well as Bally’s/Intralot, Trastor, AKTOR, and EYDAP. There was an interesting repositioning of holdings, taking into account Friday’s “triple witching” and the restructuring of the FTSE/Russell and STOXX indices.
Alongside inflows into bank stocks, orders were also placed in DEI, GEK TERNA, and HelleniQ Energy, resulting in new “highs.”
PPC shares reached 23.38, GEK TERNA hit 46 euros—a historic high—and HelleniQ Energy reached 10.73 euros—a new high—reminding investors that a share buyback program is currently in effect.
TITAN shares are at 53.80 euros—with NBG Securities setting a target price of 65 euros, considering the discount unjustified—Allwyn shares are at 13.965, and Coca-Cola HBC shares are at 53 euros.
The FTSE25 is above 6,000 points, and the FTSEMidCap is at 3,140 as “heavyweight” mid-caps gain ground. PPA shares are at 39.25 (up 4.87%)—hitting new highs—as are Ideal Holdings shares at 7.30 (up 1.25%).
New highs were also reached by Interlife (7.06), Medicon (2.82), and activity in Attica Holdings at 1.77% (10.05%) following confirmation (from the major shareholder, Strix Holdings) of discussions with an interested (potential) strategic investor. Discussions are at a very early stage, according to the relevant announcement.
The ratio of shares with a positive to negative sign stands at 47/64.