Tensions flare up again in the Middle East; U.S. crude oil prices rebound above $70, with Brent at $72.74, and S&P 500 futures down 0.24% in New York.
Earlier, Asian markets showed mixed trends as concerns about supplies from the region resurfaced.
The VIX/CBOE index stood at 18.41 points, which essentially means that for investors, the primary scenario is the maintenance of the U.S.-Iran memorandum of understanding for a 60-day ceasefire; however, for traders, short-term “pricing” is occurring at lower levels.
Already, the two sides are planning talks tomorrow in Qatar to end the attacks on both sides.
This discount is factored in, on the one hand, due to the half-year “book closing” tomorrow, Tuesday, and on the other hand, due to the release of key economic data in the U.S. the day after tomorrow, Thursday. In any case, June’s “bottom line” is negative—for example, down 2.23% for the S&P 500, at 7,353.37 points. The DAX 30 and CAC 40 also posted losses throughout June.
Investors in the Greek stock market, however, saw the opposite result: with the General Index at 2,449.29 points, the change is a 3.34% gain.
This divergence is mainly due to the outperformance of “heavyweight stocks” in the FTSE25, rather than bank stocks. Indeed, the FTSE25, at 6,203.62 points, is up 3.06%, compared to a marginally negative 0.04% for the DTR, at 2,734.21 points. Specific blue-chip stocks are outperforming bank stocks, with the energy sector driving the market’s bullish trend.
The main driver was PPC, with a gain of 9.71% to 23.04 euros, and a similar trend was seen in ADMIE (22.81%), as well as HelleniQ Energy (8.70), Motor Oil (38.14), and AKTOR (30.16%), which is vying for a role in the broader energy sector. According to a report by Giorgos Fintikakis, this sector is dynamic and currently in the process of creating synergies.
The focus is on the prospect of building a second FSRU and the scenarios surrounding discussions between AKTOR and “Gas Canal,” a subsidiary of the Motor Oil Group. Plans are also underway on the part of Gastrade-HelleniQ Energy.
The energy sector, which attracts investment capital and powerful foreign players, has long emerged as the alternative for “international capital,” vying for an even larger share than the banking sector.
Of particular interest are the reports from the Athens Stock Exchange regarding AKTOR and ADMIE, with the Operator now valued at 1.774 billion in terms of FTSE25 share market capitalization rather than the current FTSEMidCap classification.
The ex-dividend process continues today for Fourlis (0.15 euros/share), Alter Ego Media (0.12/share), GEK TERNA (0.40/share), and Profile (0.08/share), Safe Bulkers (0.06 per share) tomorrow, Tuesday, the last trading session of June. And in early July, with ex-dividend dates for HelleniQ Energy (0.40 per share), TITAN (1.10/share), Alpha Bank (0.015/share), OTE (0.88/share), and Flexopack (0.18/share) the day after tomorrow, Wednesday. A related article discusses seven listed stocks with yields exceeding 5%.