Sellers seem to be losing the advantage in the European markets, while buyers in the Greek stock market seem to be winning the bet of differentiation.
A demand and stake from the outset for the “strong hands” investing in the prospect of the upgrade and looking ahead to increasing their positions in September. For the time being the venture is crowned with success, and this is reflected in the 0.36% rise of the GD to 2,712 points. Against losses of 0.22% for the DAX at 25,950 points, a marginal minus 0.03% for the CAC40 at 8,302 and 0.02% for the FTSE 100 at 10,820 points.
Earlier, in the New York futures market, S&P 500 futures were 0.19% lower at a discount at 7,693.50 points, with WTI Crude at $93.81, the 30-year yield at 5.283% and the VIX/CBOE at 15.78 points.
The correction is relatively controlled, with the EuroStoxx Banks at 319.59 (-0.71%) and the EuroStoxx Oil & Gas at 601.51 (0.34%), a trend that facilitates investors’ tactics on the Euronext Athens.
The picture for the banking sector is twofold, with a correction at the start and a recovery afterwards. Opening for the DTR from 3,230 with a slide to 3,213.21 (at 10:43) and a reaction toward 3,249.69 (at 13:13 and 13:18).
Transactions of 12.02 million shares, with 8.56 million shares in banking stocks. Turnover above 100 million euros, with 8.24 million euros through packages (at 14:45).
Inflows from the side of “strong foreign hands” remain steady, with a stockbroker attributing this to the fact that the most significant ones are estimated to take place in the shares of the systemic banks.
He also recalls that inclusion in the STOXX index is expected to activate more capital in specific shares of Greek groups, with JPMC estimating total capital inflows into the nine stocks that will be included in the index at more than $1.1 billion. The largest estimated flow is expected in National Bank, with $326.9 million. It is followed by Eurobank, with $260.9 million, Piraeus with $249.3 million and Alpha Bank with $171.2 million. Among the possible, logical reasons sustaining buying interest.
At 10.71 (0.10%) the Piraeus share, at 17.615 (0.18%) National Bank, at 4.809 (0.44%) Eurobank, at 4.724 (-0.12%) Alpha Bank.
At 10.56 (0.67%) the Bank of Cyprus stock, at 11.80 (0.51%) Optima Bank and at 0.993 (2.06%) Credia Bank.
Within the 6,909-6,970 range the FTSE 25, with fluctuation similar to that of the DTR, that is, with the low in the first half hour, the high in the 13:15-13:30 interval, when more inflows were recorded into shares of Motor Oil (64), HelleniQ Energy (16.63), as well as Allwyn (13.19), Cenergy Holdings (23.66), PPC (24.30), DAA (10.41), Coca-Cola HBC (53.40), Jumbo (26.76).
Qualco at 6.36 (4.42%), EXAE at 8.20 (1.74%), Fourlis at 4.17 (1.48%), IDEAL Holdings at 6.04 (0.33%) among the FTSE Mid Cap stocks that stand out.
At 14:45 the ratio of stocks with a positive/negative sign was at 52/57, clearly improved compared with the start of the session.