Buyers held a slight edge in European markets, with a somewhat larger lead on the Greek stock market.
From the pre-market session, it appeared that the trend taking shape in New York would give long positions a relative advantage in recouping some of their recent losses.
Lower oil prices, bond yields, and indices such as the VIX/CBOE; higher futures for the S&P 500—up from 7,451 points.
Thus, in Frankfurt and Paris, the session opened with buying, resulting in the DAX closing at 24,852 (0.88%), the CAC 40 at 8,406 (0.47%), and the EuroStoxx Banks at 290.74 (0.34%). On Euronext Athens, the DTR opened at 2,777 points.
Orders for banking sector stocks reached 2,787 points, with 1.02 million shares traded out of a total of 1.78 million shares and a half-hour trading volume of 13.4 million euros.
Order flow was moderate through 11:00 a.m., concentrated on the shares of the four systemic banks and specific blue-chip stocks.
The half-year return for the DTR stood at 21.54%—compared to 8.90% for the EuroStoxx Banks index—17.25% for the FTSE25, and 16.93% overall for the General Index.
A solid first half of the year, considering the developments since late February, with the Greek stock market outperforming the majority of European markets, driven primarily by the banking and energy sectors.
National Bank of Greece shares are at 15.34 (0.93%), Piraeus Bank shares at 9.032 (0.47%), with Metlen Energy & Metals shares ranking third in this category.
Orders reached as high as 42.14 euros, following yesterday’s spectacular rally on the London Stock Exchange (LSE), which closed at the day’s high of 42.20 euros. The rise was attributed to the launch of the management’s buyback program. Next are Alpha Bank at 3.995 (0.11%) and Eurobank at 4.176 (0.43%).
Five major buyers were active, with the result reflected in the General Index’s volatility; it appears the index will “close” the half-year having reached a new high of 2,506.50 points.
With relatively strong trading volume, gains were seen in Allwyn (13.90), PPC (23.12), AEGEAN (12.89), and AIA (10.75), with Eva D. Oikonomaki’s insightful article on last-minute bookings that are upending the balance in the tourism sector.
Motor Oil shares are at 38.78 (-157%), while AKTOR shares are at 13.44 (0.30%), with Giorgos Fintikakis commenting on the latest developments.
Mid-caps are showing a moderate trend, with PPA (44.35), Alter Ego Media (5.90), Intracom Holdings (3.345), and Ideal Holdings (6.38) standing out among the FTSE25 stocks. Specifically regarding the latter’s stock, interest is also being driven by the upcoming listing of “Attica Department Stores” on Euronext Athens, the day after tomorrow, Thursday.