Mixed trends in European markets; a slight rise on the Greek stock exchange. With S&P 500 futures trading at a marginal premium of 7,392 points, the DAX in Frankfurt stands at 24,738 (-0.74%), in Paris, the CAC 40 is at 8,346 (0.08%), and with the EuroStoxx Banks index down 0.72% at 292.91 points; in Athens, long positions are attempting to rebound following Tuesday’s significant correction.
The pre-market session signaled a willingness to rebound, with the first orders placed at 2,808 and reaching as high as 35 points higher by the 45-minute mark of the session.
While the banking sector was the main focus, the energy sector also drew significant interest, with ADMIE serving as a key benchmark.
The introduction of new shares—resulting from the capital increase—initially created pressure, with the price falling to 4.53 euros. Within 10 minutes, selling pressure subsided, and buying gradually followed, pushing the price up to 4.685 euros.
The positive “turnaround” for the Fund Manager’s stock helped bolster the bullish sentiment, as PPC followed suit. Orders for the stock are at 22.90–23.24 euros, with brokers noting that part of the increased demand that was not met during the rights offering has since been purchased on the open market. They attribute the spectacular “turnaround” in ADMIE’s stock to a similar dynamic—despite the issuance of new shares—and in defiance of funds such as Qube, which had rushed to take “sell” positions.
With DEI and ADMIE occupying the top two spots in the relevant ranking, this confirms the view of those who have elevated the energy sector to a second pillar of Euronext Athens—quite close to the banking sector.
Trading volume exceeded 40 million—by the end of the first hour—with 10.37 million traded via pre-arranged orders. Trading volume of 2.2 million shares in banking stocks, out of a total of 4.5 million shares, with increased trading activity not only in energy stocks but also in GEK TERNA, Cenergy Holdings, Metlen Energy & Metals, Allwyn, Jumbo, Credia Bank, AKTOR, OTE, Bally’s/Intralot, HelleniQ Energy, and Coca-Cola HBC.
Coca-Cola HBC saw a comparatively strong flow of orders at 54.70 (2.24%), with orders coming in from London. This outperformance is reflected in the FTSE 25 index, which closed at 6,320 (0.68%).
Motor Oil shares traded at 39.06 euros, HelleniQ Energy at 10.70—ahead of its general meeting—AEGEAN at 12.75, and AIA —with buyers active in both tourism sector stocks—TITAN shares at 52.95 euros, Cenergy Holdings at 24.28, and others.
In addition to ADMIE shares, buyers also outnumbered sellers in Intracom Holdings (3.445), Qualco (5.43), Sarantis (15.08), and Quest (7.33) among the FTSE Mid Cap stocks.
The ratio of shares with positive to negative signs stands at 2:1, with buyers outnumbering sellers by 64.