Progress in U.S.-Iran talks, lower oil prices, bond yields, and leading indicators—stock futures higher on European exchanges.
Brent at $78.61, WTI at $75.30, the yield on the 10-year U.S. Treasury at 4.497%, the 30-year at 4.914%, and the CBOE VIX at 16.78 points.
DAX 30 futures are trading at a slight premium, while FTSE 100 futures are at a discount—under pressure from political developments in London.
Traders are taking note of the joint statement by U.S.-Iran mediators, who noted that they will continue technical negotiations throughout the week and establish a high-level committee to oversee the mediation process.
With the DAX30 at 24,985 points, the FTSE100 at 10,363, and the EuroStoxx Banks at 295.21 points, longs hold a slight advantage.
With a positive “balance” from the previous week on the Greek stock market as well, the session opens at 2,475.98 points for the General Index, driven by inflows and buying in bank stocks and blue chips. The DTR is up at 2,848.08 and the FTSE25 at 6,290.18 points, while the FTSEMidCap stands at 3,209.66—mainly due to ADMIE, Ballys’/Intralot, attracted significant liquidity and buying interest.
The banking sector remained a key sector, with the issue of the Katseli law continuing to be a “thorn in the side,” particularly for systemic groups. Anastasia Papaioannou reports on the dual initiative by the Ministry of Economy and Finance and servicers to resolve “ambiguities” that, according to the servicers, need to be clarified.
With all four systemic bank stocks showing positive performance, longs held the advantage last week; however, it remains to be seen whether they can maintain it, as toward the end of the week, many moved to partially “lock in” their positions. This was particularly the case for Eurobank (4.239), Piraeus Bank (9.35), and Alpha Bank (4.105).
For yet another trading session, PPC shares topped the list at 22.92 euros, with a weekly change of 1.15% and a total gain of 15.04% over the past month, fully vindicating those who participated in the rights offering (at a subscription price of 18.63 euros).
Among the “hot” bets of the period, the PPC Group is paying off for both traders and investors taking positions with different time horizons. Its market capitalization stands at 13.692 billion, compared to 14.182 billion for National Bank of Greece (third in the relevant ranking).
It is encouraging for those who are long on the FTSE25 that the number of stocks showing a similar trend is increasing. Buyers were in the majority on Friday for the three stocks of the broader Viohalco group (with Cenergy Holdings and ElvalHalcor at the center), as well as for Motor Oil, AKTOR, OTE, Lamda Development, and AIA, EYDAP, and AEGEAN.
At the same time, due to rebalancing, buyers were active in specific stocks—primarily Credia Bank—
Regarding the persistent discounts on Motor Oil, HelleniQ Energy, and TITAN Cement, a related article notes that Berenberg has set a target price of 55 euros for Metlen Energy & Metals shares.
HAMeleon reminds us of the ex-dividend date, as today it is the turn of Intracom Holdings (0.18134/share), Cenergy Holdings (0.26/share), Noval Property (0.07022/share), and ElvalHalcor (0.11017/share).