STOCK MARKET: The market interprets the moves by major business groups to bolster capital and liquidity as preparation for potential political uncertainty.
The “sudden” raising of 658 million euros by GEK TERNA (photo: Giorgos Peristeris) and MOH’s decision to enter into exclusive negotiations with Aktor regarding the core (HELECTOR-Thales) of the circular economy sector—which it has developed over the past three years—are, according to financiers and business executives, the common ground for the country’s future.
Major domestic companies are preparing for all eventualities, while the current economic climate is extremely favorable. “When there’s money on the table, you don’t let it slip away,” notes an investment banking executive.
STOCK MARKET II: PPC’s capital increase is largely “responsible” for the surge in capital increases that the Athens Stock Exchange has been experiencing over the past month. First, because it served as a “catalyst,” sparking massive demand for the narrative of energy infrastructure development in Greece and Southeast Europe, which other companies rushed to capitalize on.
Second, because it played a catalytic role in shaping the timing, as the unwritten rule took hold: “Since PPC is taking advantage of the current window of opportunity, let’s do the same.”
VOTER TURNOUT: Pollsters expect the highest abstention rate ever recorded in the upcoming elections, a fact that is causing unease among both established and new political parties.
Members of Parliament paint a bleak picture of the phenomenon. At rallies and dinner tables, they find that even party officials did not vote in the last election and have no intention of going to the polls.
This development works to the advantage of the leading party, New Democracy, as it is estimated to have a fairly large “core” voter base.
As they say in the Parliament’s cafeteria, unless something significant happens before the election to motivate the electorate, the poll numbers currently shown for the parties led by Alexis Tsipras and Maria Karystianou are unlikely to be reflected at the polls.
Another striking finding this time around is that “abstention” has now become the “leading party,” rather than “none.” In fact, younger voters are not the driving force behind this trend, as was the case in the past. The refusal to vote has taken hold among those in their 30s and older.
It is the so-called “couch party” that is emerging… as the sure winner.
LATINOPOULOU: Speculation about a potential alliance between Antonis Samaras and Afroditi Latinopoulou continues to circulate, but the president of the Voice of Reason has once again denied it.
“There will be neither cooperation nor channels of communication with Mr. Samaras. The people need a clear-cut party with a clear-cut vision,” she emphasized (in Parapolitika), while also denying that she would enter into a coalition government with New Democracy.
“There are already those who will be there, standing by Mr. Mitsotakis just as they are now—such as Mr. Velopoulos, who votes for him at every difficult moment, no matter what bill Mr. Mitsotakis brings forward. Whenever he’s needed, they’re there—so there are those willing to do just that,” she said, taking a few jabs at her rival on the right of the ideological-political spectrum.
FEVGAS: “I don’t take back anything I said, but I’m not resigning either,” declares New Democracy’s Secretary of Strategic Planning, Vasilis Feugas, in the wake of his letter to Kyriakos Mitsotakis and his demand to repeal the law on same-sex couples and expel Samaras from the party.
His intervention, as he said (on ANT1), does not constitute a challenge, but is part of a “substantive dialogue,” and he described his positions as “public, clear, and transparent.”
Despite being… dismissed by the government spokesperson, he did not seem deterred, noting that he himself… proposes strategies and rejected the notion that he is pursuing a personal agenda.
It is true, however, that he did cause internal party turmoil…
DEFENSE: Greece has spent enormous sums on weapons systems over the past 50 years, yet has failed to develop domestic production or support capabilities for them, as stated, among other things, by Alexandros Diakopoulos, executive chairman and CEO of the Hellenic Aerospace Industry (HAI), at the Athens Defense Conference.
According to him, the amount of money spent on weapons systems is so high that it exceeds the size of an entire year’s GDP.
ALPHA BANK: Today marks the implementation of the bank’s new Collective Bargaining Agreement, which provides for a minimum monthly salary of 1,600 euros.
In addition to the pay increase, the new agreement introduces one of the most comprehensive benefit packages in the banking sector, with an emphasis on supporting new employees and their families.
The (extensive) list includes, among other things, a savings plan for employees’ children, with a monthly contribution from the bank, a childbirth and adoption allowance of 3,000 euros, and a one-time grant of 2,000 euros for employees’ children who are admitted to universities located more than 100 km from their place of residence.
It also includes a mechanism to protect employees’ mortgages from rising interest rates and more favorable terms for personal loans.
SUNLIGHT: The group’s financial results did not go unnoticed by the market. Not only because the company returned to profitability and increased its EBITDA to 121.1 million euros from 102.5 million euros in 2024, but mainly because they confirm that it is in a growth phase, in one of the most strategic sectors of the coming decade.
Energy storage is gradually evolving from a complementary technology into a fundamental prerequisite for the further development of renewable energy sources and power grids.
In this environment, Sunlight continues to strengthen its production and technological footprint, having invested 123.7 million last year in Greece, Europe, and the U.S.
Those who closely follow the sector believe that the company’s next moves will be of particular interest...
SEANERGY: In the shipping market, the performance of Stamatis Tsantani’s Nasdaq-listed company—which in recent years has consistently pursued a strategy of exclusive specialization in Capesize vessels—appears to be attracting growing interest.
This choice now appears to be paying off, as the company has established itself among the largest publicly traded pure-play Capesize companies worldwide.
At the same time, it continues to renew its fleet through an investment program approaching $0.5 billion, investing in modern, eco-designed vessels.
With market fundamentals remaining supportive and demand for key commodities, such as bauxite, iron ore, and coal, remaining steady, several analysts believe that the Capesize market, as well as companies with a specialized presence in the sector, offer significant growth prospects.
It should be noted that yesterday the Hellenic Capital Market Commission approved the prospectus for the corporate bond the company is preparing.
ENERGY: The high temperatures sweeping Western and Central Europe have reached us as well, with yesterday’s peak price on the Greek energy exchange hitting 519 euros per megawatt-hour in the evening and reaching 400 euros today.
July kicked off with an average price of 169 euros/ megawatt-hour (+22% from yesterday), due to the heat wave—as low winds reduce wind turbine output—and because of exports to neighboring countries, where wholesale markets are trading even higher.
Increased demand means more natural gas, which currently accounts for about 40% of the energy mix, compared to just 45% from renewables, 6.5% from hydropower, and just over 5% from lignite.
Things are even tougher in our neighborhood, where Bulgaria is trading at 170.25 euros, while Romania has surpassed 226 euros and Hungary has exceeded 235 euros.
Leading the pack across Europe, with prices in the 38s and 40s setting the tone…
GEK TERNA: Following the impressive completion of the listed company’s capital increase, the market is already focusing on how and by whom GEK TERNA’s capital increase was subscribed.
Based on the book-building syndicate structure, it is estimated that several European infrastructure funds and groups active in the infrastructure sector have invested in GEK TERNA’s share capital.
The new shareholder register is eagerly anticipated, especially if high trading volumes in the stock continue…