Gains are widening across European markets, while they are moderating on the Greek stock market.
With S&P 500 futures holding steady at a premium, buyers are stepping up their activity mainly in Frankfurt and, to a lesser extent, in Paris and Athens.
S&P 500 futures are at 7,462 (0.34%), the DAX at 25,002 (1.49%), the CAC 40 at 8,410 (0.51%), and the General Index at 2,473 (0.26%).
The DAX’s outperformance is due to a strong upward correction in the shares of Siemens Energy (5.74%), Siemens (4.78%), Bayer (3.19%), and Deutsche Post (2.30%), while bank stocks such as Commerzbank and Deutsche Bank saw only marginal changes. Deutsche Telekom shares fell 4.09%.
At 292.28 points, the EuroStoxx Banks index rose 0.87%, with a moderate trend that, upon reaching Euronext Athens, was limited to a 0.60% gain for the DTR at 2,785 points. UBS has expressed confidence in the domestic banking sector, a sentiment that is expected to begin to materialize gradually starting in early July.
For now, trading volume in the sector’s stocks is moderate, with 6.5 million shares traded out of a total of 12.3 million shares. It was not until 3:00 p.m. that trading volume exceeded 100 million euros, with 15.2 million euros coming from pre-arranged orders—a lower figure compared to the immediately preceding sessions and yesterday’s 50-plus million.
According to a broker, this session was characterized by a combination of partial position-locking and efforts to improve the valuation of specific listed stocks. In a way, it was a combination of profit-taking and a bit of window dressing. This was the last trading session of June (and the first half of the year), with trading volume having fallen below 300 million euros for several days now. A lack of momentum, a lack of incentives? In any case, investor interest has cooled off after the market hit its latest “peaks” at 2,902 for the DTR and 2,506 points for the GD.
The top five stocks have a varied composition, as the banks Alpha Bank (4.014) and National Bank (15.24) are followed by the blue chips AKTOR (13.84), Metlen Energy & Metals (41.48), and GEK TERNA (45.56). The second five-stock group has a similar composition, featuring PPC (23), Piraeus Bank (9.054), Eurobank (4.174), Cenergy Holdings (23.0), and ADMIE (4.695).
These compositions, if nothing else, confirm the expansion of investment options and the openness of foreign fund managers to a broader segment of large-cap stocks.
Trading volume was relatively strong, with buyers dominating in HelleniQ Energy (11.11), Allwyn (13.995), OTE (19.45), TITAN (52.10), and AIA (10.78).
The mood was similar among mid-caps, with PPA (44.25), Fourlis (4.46), and Intracom Holdings (3.33) standing out among the FTSEMidCaps stocks.
The stock ratio stood at 56/63, with a positive/negative sign at 15:15, as trading volume reached 101.9 million, and pre-arranged orders for AKTOR shares totaling approximately 4.4 million euros had been added earlier.