The operation to remove ships from the Strait of Hormuz has been suspended, Europe is in turmoil, and sellers have the upper hand on the stock markets.
In the last trading session of the week, with S&P 500 futures down 0.57% and the VIX/CBOE once again crossing—albeit marginally—the 20-point threshold (20.08) in Frankfurt, Paris, and elsewhere, position-squaring has taken on a broader dimension.
The DAX stands at 24,713, down 1.15% for the time being ( * ) and down 1.09% on a weekly basis; based on current data, June is set to close down 1.85%. Stock markets in Paris and London are also correcting, while losses for the EuroStoxx Banks index have widened to 0.75% at 291.31 points.
On the Greek stock market, the main trend could be described as a decline in investor interest, accompanied by a corresponding drop in trading volume. It is telling that, shortly after 2:30 p.m., turnover exceeded 100 million (compared to 278 million yesterday, Thursday), with 17.76 million shares traded, of which 7.28 million were in the banking sector.
The General Index traded in negative territory, except during the period from 11:23 a.m. to 11:38 a.m., when it reached an intraday high of 2,454 points.
The low was 2,438 points, which had previously been confirmed as a support level.
Trading volume via pre-arranged orders stood at 13.81 million shares, with the largest share of these involving Bally’s/Intralot stock, totaling 4.5 million shares worth 5.4 million euros. Significant blocks of shares were also traded in Motor Oil, AKTOR, and Real Cons, while a block of 89,000 EYDAP shares at 10.60 (at 12:05) did not go unnoticed.
The General Index (GD) traded in the 2,454–2,438 range, while the FTSE25 hovered around 6,188, with the dividend rights detachment weighing on certain index constituents. A one-euro ex-dividend adjustment for Metlen Energy & Metals shares yesterday, and nearly 1.5 euros for Motor Oil shares today. This follows ex-dividend adjustments of 0.23 per share for Optima Bank (June 24), 0.25 per share for Viohalco (June 25), and so on, with all that this may imply for the short-lived short gap in these specific stocks.
AKTOR shares are at 13.22 (-1.08%), Metlen at 40.74 (-0.44%), Motor Oil at 38 (-3.05%), GEK TERNA at 44.98 (-0.40%), and so on.
Whether the market is saturated or tired (or both) will become apparent not so much today, at the close of the week, but rather on Monday and Tuesday, the two days when companies will “close their books” for the half-year.
At 37/77, the ratio of stocks with positive to negative performance at 14:50 is indicative of the gradual deterioration in the market trend.