The correction in European markets continues, with the General Index on the Greek stock exchange trading below 2,500 points after hitting a 17-year high yesterday.
The discount on Wall Street futures remains wide, with the S&P 500 down 1.28% to 7,387 points. Significant losses in Frankfurt, Paris, and London, with the banking sector among those under pressure.
The EuroStoxx Banks index stood at 295.85 (-0.78%), with steady selling pressure from the start of the session, a factor that correspondingly influenced investor sentiment on Euronext Athens.
The DTR stood at around 2,845 points, down 1.51%, with a daily low of 2,825 points—a normal correction after breaking through the 2,900 mark and hitting 11-year “new highs.” There was significant “hot money” activity, particularly in the four systemic stocks, with intraday trading reflected in increased volatility—sometimes driving share prices higher, other times triggering a correction, as was the case today.
The monthly change for the DTR stands at 10.61%, while the weekly change is down 0.89%, a result of the sell-offs in recent days. It makes sense, following yet another upward cycle, to adopt a strategy of partially “locking in” capital gains, which is currently proceeding at a rather moderate pace.
Of the total trading volume of 23.8 million shares, 8.9 million were traded in the banking sector, with most transactions occurring primarily in Cenergy Holdings but also in PPC.
The blocks for the Cenergy Holdings placement—at 24.20 euros—were traded between 13:17 and 13:24, while several trades—both before and after—took place in PPC shares. A total of 217.9 million euros out of a total of 338 million euros (the “net” turnover is roughly at yesterday’s levels).
Following Cenergy Holdings and PPC, the “big four” systemic banks led the way: National Bank (15.51), Eurobank (4.265), Alpha Bank (4.062), and Piraeus Bank (9.298).
Sellers are dominating the above six stocks, with Cenergy Holdings down 7.26%. As with the majority of FTSE25 stocks, sellers also have the upper hand in ADMIE. Tomorrow marks the listing of new shares from the capital increase, with Qube announcing that the percentage of “open positions” exceeded 0.5% of the market capitalization.
Controlled profit-taking—following the trend of recent days—was also seen in GEK TERNA (45.88), TITAN (52.85), OTE (18.92), Motor Oil (38.72), HelleniQ Energy (10.72), and others.
Exceptions included AKTOR (12.72), Allwyn (13.685), and Coca-Cola HBC (53.10).
At 39/81, the ratio of shares with positive/negative signs indicates the balance between buyers and sellers.
However, AKTOR, KRI KRI, Thrace Plastics, and ElvalHalcor hit new highs at 3:15 p.m.